I read the text of Obama's speech and it was the same old...same old.
Here's the glaring problem with our President's theory that raising the tax rate on the wealthy to the same level as when Clinton was in office will result in 23 million jobs and the elimination of the deficit...Clinton was able to do that BECAUSE of the Dot Com Boom...Obama doesn't have anything remotely like that on the horizen. Clinton was able to raise the tax rate BECAUSE the economy was booming. He was able to cut the deficit because we had so much revenue coming in from the Dot Com Boom. Obama doesn't have either of those things going on. Even liberal economists like Christina Romer have come out and cautioned against raising taxes during a weak economy like we have now. I'm sorry, Laugher but if anyone sits down and REALLY examines what it is that he's proposing, they will quickly arrive at the conclusion that his plan is a drastically flawed fiscal policy that will simply extend the length of our recession.
Its so much the same old same old that no one is even bothering to listen anymore.
Raising taxes is a very bad idea. He's really pushing his class warfare BS because he sure as hell can't run on his crappy record.
Why is raising taxes on the super rich a bad idea?
They going to leave the country? Because:
-They don't add value to the companies they work at.
-Use their money to influence policy and that policy is bad for the majority of Americans.
-Extract wealth from the economy.
-Are using that wealth to create a class of people that always take.
-Oh..and they DON'T create jobs.
So if they want to leave because of tax increases?
Good riddance.
Well S since the rich in this country pay the lions share of Fed taxes how much more should they pay??
We also have 47% of the country that pay no Fed taxes.
You better hope and pray that the rich never leave. If they do the middle class will be paying the taxes the rich now pay.
The poor will still be paying for nothing.