Obama is going around saying that he only wants to raise taxes on those individuals making $200K a year, or famillies making $250K. Ok, fair enough.
1. He says this is an issue about fairness - that the US tax code isn't fair. FACT - the OECD has shown that the US tax code is the most progressive in the world - so our tax code needs to move in the OTHER direction to be "fair".
2. Obama's idea in taxing the rich (as he defines above by the $200K/$250K argument) and to "protect" the middle class is to let the Bush tax cuts expire for the top 2 tax brackets. That would mean the 35% bracket would move to 39.6% and the 30% bracket to move to 33%. FACT - Obama is an outright liar. The current 30% bracket starts at $178K for a family - HIS definition of middle class - so his strategy won't only hit Obama's definition of "rich". Another lie by our president
3. Obama has strongly conveyed to people (mostly the simpletons that voted for him) that by removing the tax cuts only for the rich, this will go a long way to solving our nation's fiscal problems... FACT - the increased taxes on the "rich" will raise just over 22B in 2013. In 2012, Obama added $1.1 TRILLION to our debt - in one year alone. The added income by taxing the "rich" will only pay 2% of Obama's current budget deficit, and certainly won't help the debt at the rate Obama is spending.
FACT - we have to SIGNIFICANTLY decrease our spending, including entitlements. FACT - we have to increase our revenue SIGNFICANTLY - which means making our tax system more fair and asking the 47% who don't currently pay taxes to chip in. It is simple math, Mr. President. Your class warfare approach, along with unlimited spending, is making things worse. Yes, you got relected by giving stuff way, which has made our problems worse as a country. The country's loss is your gain, I suppose.
1. He says this is an issue about fairness - that the US tax code isn't fair. FACT - the OECD has shown that the US tax code is the most progressive in the world - so our tax code needs to move in the OTHER direction to be "fair".
2. Obama's idea in taxing the rich (as he defines above by the $200K/$250K argument) and to "protect" the middle class is to let the Bush tax cuts expire for the top 2 tax brackets. That would mean the 35% bracket would move to 39.6% and the 30% bracket to move to 33%. FACT - Obama is an outright liar. The current 30% bracket starts at $178K for a family - HIS definition of middle class - so his strategy won't only hit Obama's definition of "rich". Another lie by our president
3. Obama has strongly conveyed to people (mostly the simpletons that voted for him) that by removing the tax cuts only for the rich, this will go a long way to solving our nation's fiscal problems... FACT - the increased taxes on the "rich" will raise just over 22B in 2013. In 2012, Obama added $1.1 TRILLION to our debt - in one year alone. The added income by taxing the "rich" will only pay 2% of Obama's current budget deficit, and certainly won't help the debt at the rate Obama is spending.
FACT - we have to SIGNIFICANTLY decrease our spending, including entitlements. FACT - we have to increase our revenue SIGNFICANTLY - which means making our tax system more fair and asking the 47% who don't currently pay taxes to chip in. It is simple math, Mr. President. Your class warfare approach, along with unlimited spending, is making things worse. Yes, you got relected by giving stuff way, which has made our problems worse as a country. The country's loss is your gain, I suppose.

