The Obama Administration believes (currently) that we should extend the Bush Tax cuts to the 95% of the people who make less than $250,000 a year but keep them for "the rich" who make over $250,000. He likes to call them middle class tax cuts.
OK, first off let's get the terminology correct. It is not any kind of a tax cut. The taxes were already cut, back in 2001 and 2003 (remember the evil Bush years?). So what is being decided is a tax increase not a tax cut.
The next question is about taxing "the rich". Those people who have sacrificed their blood, sweat and tears to accumulate their wealth. They have succeeded in America, so we must punish them. We are not talking about the Bill Gates and the Rockefeller's here, those in the super rich class already have their money. We are talking about INCOME TAXES. Not possession taxes. You will not hurt the super rich, because they do not earn the majority of their money on an annual basis.
The people you are punishing are those "rich" people who depend on their income to keep their business in operation...low and behold the real small businesses men. These people may have a large income reported on their personal income tax forms, but they also have large expenses as well, such as payroll for other working men and women.
So it appears that the Obama Administration just seeks to harm the creation jobs in this country by INCREASING THEIR TAXES. Taxing job creators does not sound like too smart of a thing to do in a depression (or Great Recession).
"So it appears that the Obama Administration just seeks to harm the creation jobs in this country"
ReplyDeleteWell yes, but what's new? If this guy isn't directly out to destroy this Country, as we know it, then he is far more incompetent than anyone imagined . Either way, obviously, he must go!