Obama's Plan (to Tax Your A$$ Off) According to the non-partisan Committee for a Responsible Federal Budget, Obama's proposals outlined in his convention speech will cost the federal budget around $377 billion in the year 2013, based on his own figures, including the optimistic claim that he can save $75 billion a year by closing tax loopholes and $55 billion by initiating a phased withdrawal from Iraq.

The Committee estimates that Obama's promises to extend most of the Bush tax cuts from 2001 and 2003 and lessen the bite of the Alternative Minimum Tax will likely cost the U.S. Treasury around $400 billion a year.  ¶ Monday, September 08, 2008