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It's difficult to take Washington seriously on this matter. Yes, we've had some financial turbulence in recent years but the biggest problem is Congress and the White House, both have a spending problem. And that responsibility falls on BOTH sides of the aisle. If they're serious about solving our fiscal woes they should start by abolishing their free lifetime healthcare benefits. Nearly every one of those people went to Washington as a millionaire and all will likely leave with better paying jobs after serving due to the many handouts and favors they provide while in office. Let's stop telling ourselves lies and see our government for what it is – a mess.
Why does Mr. Obama care so much HOW the rich pay more taxes as long as they pay more taxes? Is this about him getting his way or is he really interested in solving the debt problem. If he can get more revenue from closing loopholes he should be spending his time trying to work this out with Congressional leaders not stomping all over the country trying to stir the pot. The campaign is over.
The bottom 20% of wage earners pay less than 1% of federal income taxes, yet consume a great deal of government services. Paying your fair share of taxes is everyone's duty. Let the Bush tax cuts expire for EVERYBODY.
Cut entitlements. In Philly? That's where you are going to find rational people? For the welfare recipients, by the welfare recipients is this administration. Way to pander to your "special interest group"
The entitlements need to stop and the out of control spending needs to stop. PERIOD!!!!! I wouldn't trust Obama on anything...
Why not revert to the old tax rates under Bill Clinton for EVERYONE? Democrats did nothing but say "tax cuts for the rich" about the Bush Tax Cuts, which was an outright lie, but now those very same Democrats who said "tax cuts for the rich" are concerned about taxes going up for those earning under $250,000 pre-tax? Democrats loved Bill Clinton and still idolize him to this day. The first thing Clinton and his Democrat Congress did after Clinton took office was raise taxes on almost everyone. So why are those Democrats complaining about reverting back to the tax rates their hero Bill Clinton instituted? Here's a FACT: Eliminating the tax cuts for those earning over $250,000 per year would raise an estimated $80 billion per year. The federal deficit for this year is expected to be between $900 billion and $1 trillion. So, where are you going to come up with the other $820 billion - $920 billion to balance the budget? They are not! There is NO PLAN to balance the budget and there never will be from Democrats. These tax increases on "the rich" will have VERY LITTLE impact on the massive spending-fueled budget deficit but will have a detrimental impact on investing and job creation. This is Obama's economy. He can't blame Bush any more.
@woodguy342 and @banne1955 – There's no doubt people who do not need entitlements are playing the system to their benefit. But that number and the financial impact are grossly overstated. It's a problem that needs to be fixed but it's not the 3,000 lb. gorilla some believe. And fixing that one item will not solve our financial issues. We also need to go after defense spending, which is absurdly inflated. We need to go after private militia spending, think Blackwater and Halliburton and we need to get Federal government employees' hands to stop picking our pockets when they leave office. It's cycle of theft and deceit on a biblical scale. Mind you, defense spending is FAR from the sole financial leakage point.
Let the tax cuts expire for everyone. Leave them there for a full year, and then start negotiations on what cuts to make to the taxes. At least start the game with everyone having a buck in the pot.
BTW - has anyone notified obama that the elections are over? He can quit campaigning any time now...
punky2012: "Why not revert to the old tax rates under Bill Clinton for EVERYONE?"
Because the middle class tends to spend money when it has more money, and the wealthy tend to ship it to their offshore accounts. Raising taxes on the wealthy does nothing to stimulate nor degrade the economy. Raising taxes on the middle class slows the economy. Why can't conservatives understand this simple concept?
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