Fail: Obama Proposes to Pay for Porkulus II With Same Tax Hikes Democrats Wouldn't Pass in 2009

President Obama's plan to pay for Porkulus II primarily with tax hikes on small business men and others making over $200 thousand a year is dead-on-arrival in a GOP controlled House. Actually, it was D.O.A. in a Democratically controlled Congress in 2009.

President Barack Obama is proposing a series of tax increases, mainly on the wealthy, to help cover the cost of a $447 billion economic stimulus proposal, budget chief Jack Lew said on Monday.

Lew said Obama's plan would raise $400 billion over 10 years by placing new limits on itemized deductions for individuals making more than $200,000 a year and families earning more than $250,000.