Obama proposed his FY2016 budget on Monday. The budget is filled tax hikes — more than 20 — which are expected to fund more spending schemes cooked up by the President. The tax hikes total about $2 trillion in additional revenue over the next decade. “The administration contends that various spending cuts and tax increases would trim the deficits by about $1.8 trillion over the next decade, leaving the red ink at manageable levels.”

So, just like his yearly spending, so to with his decade budget outlook: despite record tax revenue, Obama’s proposals still don’t balance out. We continue to have deficit spending.

What is in this budget proposal? It’s chock-full of ambitious taxes aimed mainly at the wealthy and businesses. Most of his budget items will likely not pass Congress — and he knows this. At this point in his Presidency, it doesn’t matter anyway what he proposes, or really, what actually passes. And Obama knows this. He’s not running again.

Obama has merely given the Democrats a list of initiatives for them to push, so that they can create anti-Republican narratives using his ideas for litmus tests and sound bytes over the next year to two years heading into the 2016 elections. It’s not about solutions; it’s about creating more divide. Charles Krauthammer got it right when he said, ““Look, I don’t mind if the President sends a budget which he knows is not going to achieve anything. But when he prefaces his remarks as we just saw by saying we have to put politics aside, posing again as the one person in the country who rises above partisanship and party, speaks for the national interest, it’s really grating.”

Here’s the rundown of the list of budget tax hikes. I’ll do some follow up posts about a couple of particularly odious policies contained therein, but for the time being, you can read the entire list of tax increases here. The amounts of revenue noted below are calculated to be collected from the tax increases over the next decade, from 2016 – 2025.

“Limit deductions for top earners to 28 percent rate, even if income is taxed at 39.6 percent: $603.2 billion

Impose a 14 percent one-time tax on previously untaxed foreign income: $268.1 billion

Impose a 19 percent minimum tax on foreign income: $206 billion

Modify estate and gift tax provisions: $214.4 billion

Change the taxation of capital income: $207.9 billion

Other increases from reform of U.S. international tax system: $135.8 billion

Impose a financial fee on large financial companies: $111.8 billion

Increase tobacco taxes and index for inflation: $95.1 billion

Repeal LIFO (Last In First Out) method of accounting for inventories: $76.1 billion

Conform SECA (Self Employed Contributions Act) taxes for professional service businesses: $74.6 billion

Other revenue changes and loophole closers: $47.9 billion

Eliminate oil and natural gas preferences: $45.5 billion

Implement the Buffett Rule by imposing a new “Fair Share Tax” (making millionaires pay at least 30 percent tax rate): $35.2 billion

Reform the treatment of financial and insurance industry products: $34.4 billion

Limit the total accrual of tax-favored retirement benefits: $26.0 billion

Other loophole closers: $24.3 billion

Reinstate Superfund taxes: $21.2 billion

Tax carried interests as ordinary income: $17.7 billion

Make unemployment insurance surtax permanent: $15.7 billion

Eliminate coal preferences: $4.3 billion

Reauthorize special assessment from domestic nuclear utilities: $2.3 billion

Increase and modify Oil Spill Liability Trust Fund financing: $1.6 billion

Repeal tax-exempt bond financing of professional sports facilities: $542.0 million”