By Rob Berger in Forbes

February 16, 2016

Two things are undeniable about President Obama’s recent budget proposal. First, the $4.1 trillion proposal would continue deficit spending, increasing our debt from $19 trillion to $27.4 trillion over ten years, according to the Office of Management and Budget (see Table 4-2 on page 36). Second, it will never pass.

Yet it does draw some important battle lines. With respect to taxes, the budget proposal provides some insight into potential changes that could affect retirement savings and small business planning. Specifically, the budget seeks to eliminate strategies many have come to rely on, increasing the tax burden largely on the middle class, in my opinion.

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