* includes a single corporate tax rate of 24%, allows a one-time, low-tax repatriation of foreign earnings, and repeals the rule that allows companies to defer taxes on foreign income. It also allows businesses with gross receipts of up to $1 million to expense all equipment and inventory costs in one year.

* advocates a single corporate rate of between 23% and 29%, and eliminates business tax deductions. It also proposes a territorial tax system for active foreign-source income, and eventually phases out the exclusion for employer-provided health care. It also eliminates the LIFO method of accounting for inventory, with an appropriate transition.

* recommends a top individual and corporate tax rate of 25%, while eliminating corporate loopholes and carve-outs. The proposal also would end taxpayer bailouts of financial institutions, and privatize Fannie Mae and Freddie Mac.

* would eliminate special interest loopholes and lower the corporate tax rate, although it doesn't specify by what amount. The budget also recommends expanding the current R&D tax credit by about 20%, and allowing the expiration of tax cuts for households with incomes of more than $250,000.

By the way, while the main title of the Obama budget is still generic, it does use positive-sounding subtitles, such as "Putting the Nation on a Sustainable Fiscal Path" and "Competing and Winning in a World Economy."