Rath on 19 September 2011
| Kantor said: This will never pass a Republican congress. It's populism at its very worst. Obama understands that he's done a pretty worthless job as President so far, and he needs to drum up support from the left so they don't go vote Nader or something. Not everyone is as wealthy as Warren Buffett. The top 0.5% of America is significantly richer than the second 0.5%. Most of the money paid in by these people will never be seen by them again in any form. You can't force the very wealthiest people to pay exorbitant tax rates, because they will just refuse. They'll move elsewhere, or hire yet more people to find loopholes. The only "solution" is to lump the entire middle class together and say they have become rich on the backs of the poor, to say that the majority of Americans are entitled to more than they currently get. It's a fantastic method of control. Should he let the Bush tax cuts expire? Absolutely. Should he increase tax further? No. Should he go into this massive song and dance about it? No. |
They won't be paying exorbitant tax rates. Most of them currently pay lower tax rates than people who earn less than them.
I really do agree with Obama on this one, while cutting expenses is necessary (and lets face it, some areas of your government are bloated enough that there could be significant savings) but if you're going to be serious about cutting the deficit then you need to raise revenues too.
