Obama's Ideas on Taxes; Severely Flawed!

Whiteheather, You are right about that! They would take the money normally used to create new jobs or raise salaries and put it in shelters for a "rainy day" because they know when a liberal gets started punishing the wealthy for being wealthy it usually gets worse!

Yeah when you look at dollar and cents then yes the percents will give you more cash if you are paying less tax on more money. However you got to think also that the people with the money are companies that are the ones doing the hiring and giving the lower class paychecks. The tax cuts for the upper class will help companies to be able to give raises... help them be able to support the higher minimum wages that are being applied without raising the cost of their products that we buy. It will help to create more employment opportunities. Help encourage people to start up new companies. If Obama raises the taxes on the upper class it will only hurt the lower class more. You don't care about how much tax is coming out of your paycheck when you don't have a paycheck at all. As far as thinking of his wife's bank account, a great deal of the money in that bank account she uses for various charities.

An informed response--well done. Even if I was absurdly rich, I'd favor Obama's tax plan--I'd never be so greedy as to want MORE on top of all of the tax cuts I got from Bush.

ClarusVisum, It is easy to say something off the wall like "I would be in favor of Obama's plan even if I were filthy rich" until you are actually faced with giving up 60% of your income! Danimalhite, Your response sounds good, like ClarusVisum said but it is a little misinformed. The tax cuts given during the Bush administration ACTUALLY raised the incoming revenue from taxes because the "filthy rich" were able to open more businesses and therefore create more jobs. Yes, they got to keep more of their money but the also made it possible for others to make a living. Exactly how many middle class and poor create any jobs? But of course I'd give up my job to get 3 or 4 hundred more dollars back on my taxes, wouldn't you? The problem with Obama's 3.3 trillion deficit is that it doesn't factor in his enormous give away programs which will multiply the deficit several times!

"First and foremost, the Bush tax cuts for the "wealthy" impacted every taxpayer from top to bottom." I'm sure all of these people unable to even go to a job interview because gas is so expensive would agree. "Arbitrarily, a percentage tax cut, although it looks unfair is actually the most fair way to give tax cuts! 10% is 10% no matter what the number you are taking it from!" If you're struggling, 10% is no help at all. You need a fixed amount that makes a difference--taking a percentage of a low income isn't going to mean anything, while for the wealthiest it means millions upon millions of 'bonus' dollars that they sure have far less use for than the hard-working Americans who can't make ends meet thanks to the rising price of everything, especially oil. "these are paychecks that will start to disappear if big business is forced to start hiding capital" Please. What are the big business owners going to do when none of their employees can AFFORD TO DRIVE TO WORK? This has already happened to a lot of people--one publicized family went from $70,000 a year to going to a food bank ( http://www.cnn.com/2008/LIVING/personal/03/27/foodbank.family/index.html )! Instead of bailing out Bear Stearns, the government should be bailing out these hard-working families who definitely deserve that $1.2 billion a year more than an oil company that keeps breaking its own (and world!) records for profit year after year! Your ridiculous slippery slope fallacy tying giving the working class some well-deserved tax breaks with there being NO JOBS AT ALL FOR ANYONE EVER is so ridiculous that I'm not even going to refute it.

ClarusVisum, First and foremost, the Bush tax cuts for the "wealthy" impacted every taxpayer from top to bottom. Arbitrarily, a percentage tax cut, although it looks unfair is actually the most fair way to give tax cuts! 10% is 10% no matter what the number you are taking it from! YES, the wealthy who make more money realized more gain monetarily but I ask you; who took the risks, hired the people, opened more businesses? The middle class? No, we are too busy living from paycheck to paycheck and these are paychecks that will start to disappear if big business is forced to start hiding capital, which they will under Obama's plan and just as they did under Carter's administration! I ask you one question and this is just personal to you, you don't even have to answer to me just yourself. At what point would you personally throw up your hands and say, "It just isn't worth the trouble"? 40% taxation? 50% taxation 60% taxation 70% taxation you get the picture, don't you? I want you to understand, if you will, these "fat cats" that you believe make too much money and are dragging this country down because they "don't pay their fair share" are the people who provide the jobs, paychecks, benifets, raises and everything else that goes along with being employed. If we take away their desire to succeed by making it unprofitable or not profitable enough and they decide to close their doors (just as many did during the Carter taxation years) we will ALL be out of jobs. Then where will Obama's taxes come from?