Why does Obama insist upon raising taxes? Not because he believes it will improve the economy, and not because he believes it will increase receipts to the Treasury. The proposed taxes would bring in about $80 billion a...
Obama the "taxspender" will make the middle class poorer not richer. If the rich are not growing and making money, two ingredients for sound economic growth, than how can the poor/middle class do it? Instead of insisting his millionaire/billionaire and entrepreneurs through America pay more in taxes, why not insist they pay their employees better wages; thus higher wages brings in more tax revenue for the "taxspender." Everyone wants to see the gap between the "have-nots and the haves" close; it's historical. America has done more for that than anyone prior. Obama will not success at all; his plan will fail and we'll all be stuck with another housing market fiasco.
Republicans find themselves in the unenviable position of being forced to agree to raise taxes on those earning more than $200,000 (the actual cut off for those Mr. Obama refers to as "millionaires and billionaires"), or risk being blamed for a tax increase on all taxpaying Americans. They will probably agree, which means it's a politically unavoidable policy, not a good policy.
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