President Obama's Budget Contains $1.9 Trillion in Tax Increases

President Obama today released his administration's Fiscal Year 2011 Budget.  The Treasury Department released its 153-page Green Book, General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals.  From the Treasury Department's press release:

"This set of tax reforms strikes a balance between targeted tax cuts to spur investments in job growth and innovation here at home, middle class tax relief to make our tax system more fair, measures to crack down on abuses that send jobs overseas, and long-term fiscal discipline."
-- Treasury Secretary Tim Geithner

Press and blogosphere coverage of the tax proposals:

• Associated Press, Obama Budget Would Impose Host of Tax Increases
• ataxingmatter, Obama's FY 2011 Budget
• Bloomberg, Obama Budget Drops Plan for $87 Billion Tax Rise on Companies
• Bloomberg, Obama Seeks $1.9 Trillion Tax Rise on Rich, Business
• Dow Jones, Obama Budget Includes $400 Billion In Business Tax Hikes
• Reuters, Obama Tones Down International Corporate Tax Aims
• TaxVox, Obama’s Mind-numbing Budget
• Wall Street Journal, Budget Would Raise Tax Rates on Wealthy, Limit Deductions
• Wall Street Journal, Plan Would Raise Taxes on Businesses