President Obama attempts to raise tax on the wealthy individuals
By kingparker
@kingparker (9673)
United States
July 10, 2011 12:20pm CST
Do you think such policy will help the nation economically? President Obama will try to raise taxes on those wealthy individuals to the level as Clinton's administration, to %39.5. A lesson learn from President Obama, he quoted, during Clinton's year, he raised taxes on wealthy individuals, the nation has stable employment rate, and people are earning more. There wasn't deficit like today. Many methods had tried recently, but none of them work, or help reduce the deficit in the house. So, maybe raises taxes on them can provide a solution. There were many disagree with such policy, and still debatable. What do you think such policy? I don't think it would solve our problem on hand though. The situation on 2001 and 2011 is so much different if you consider it further.
2 people like this
4 responses
@marty3888 (2355)
• Acme, Michigan
10 Jul 11
Why not? I mean, I don't mean to be insensitive to the wealthy and I know they have more expenses than we do, but they can afford it more than the lower class, or at least they should. If people who are making 250,000 a year or m ore are spending all of it, that's their problem. They shouldn't. The higher taxes could go for unemployment for the unemlployed (as long as they are actually looking for work.) It's a shame when a state runds out of unemplyment funds and people lose their homes because of it. And you are right. During the Clinton years, you would go shop. They would hand you a reciept and an application. I am dilegently looking for work every day and I thank god for the unemployment I get. And I will get hired before it runs out.
@bobmnu (8157)
• United States
18 Jul 11
The thing that people forget is that President Clinton alsor lowered the Capital Gains tax to encourage expansion of the economy. This is the part President Obama does not understand - when the wealthy get more money they look to invest it and make more. They invest in creating jobs that will make a product or a service that people want and will buy thus creating demand and create more jobs. Investment is how you grow the economy. You don't grow an economy by spending money to pay people to do nothing.
What are you going to do when you have taxed the rich out of the country, which is what is happening in California , New York and other high tax states? high Taxes have driven many companies out of the US to countries that have a lower tax on business which means lower prices for consumers and greater demand.
1 person likes this
@deebomb (15304)
• United States
16 Jul 11
No I don't believe the taxes should be raised on the wealthy. Who provides the jobs! It's the ones with money. They already pay most of the taxes. Look at what Obama has given out since being office. Why did he take care of the budget when he came into office? Where has he been the last few months? Out raising campaign funds that's where. Why is he giving Brazil 200 billion to drill for oil when we have it here and would provide jobs. Why is he giving funds for a shrimp on a treadmill or other stupid stuff? Why are there so many government agencies that over lap? Why pay 1million for s new food pyramid replacing the old one with a plate? I could go one but I have to go. By the way why do so many get money back that they didn't even pay into taxes? Like the head of house credit? Is that fair? It is our fault the American public that we are so far in deb. We all want the government to take care of us. We Say it's not fair that our neighbor has more than we do so lets take it away from him and give it to us..
@Shellyann36 (11384)
• United States
13 Jul 11
Raising taxes is one way to help the economy but there are so many other things that the gooberment needs to cut out. Get our troops back home and stop meddling in other people's problems would be one of the best ways to stop wasting money. I am so tired of all of our elected officials. Our gooberment needs to be overhauled and the elected officials should not be paid, it should be an honor to serve!
