Why is Obama so hell bent on taxing the rich? (Clinton, military)

[zz4guy]

Or is that his excuse for not allowing spending cuts? Seems like this whole debt crisis would be over if we had a new president who was able to control spending. You really have to wonder why, by his own admission, he does something that could single handedly take down his presidency.

What is this guy hiding? What is his obsession with taxing the rich? The rich and corporations already pay the most income taxes by far than any other group and there isn't nearly enough money to make a dent in the defecit.

[Winter_Sucks]

So we need to do drastic cuts that would hurt the elderly and poor, so Bill Gates can get more tax breaks? That makes sense.

[arrgy]

They only pay the most because they are the only ones with any money left.

[rw47]

It's marketing. Tax the rich is a message that appeals to the masses. That's it. He knows damn well it will not dent the deficit.

[zz4guy]

Originally Posted by Winter_Sucks

So we need to do drastic cuts that would hurt the elderly and poor, so Bill Gates can get more tax breaks? That makes sense.

I'm sorry but that makes no sense. The elderly and the poor have not gone away since Obama was elected, yet he has increased government spending by 3 times what it was at any time during the Bush years.

[Winter_Sucks]

Originally Posted by zz4guy

I'm sorry but that makes no sense. The elderly and the poor have not gone away since Obama was elected, yet he has increased government spending by 3 times what it was at any time during the Bush years.

The GOP is pushing for cuts to SS/Medicare/Medicaid and defending tax breaks for billionaires. It doesn't make sense, but that's what they are trying to do.

[JohnPaul]

Originally Posted by SamBarrow

It's marketing. Tax the rich is a message that appeals to the masses. That's it. He knows damn well it will not dent the deficit.

This

Tax them 100% and it will be like spitting in the ocean.

[padcrasher]

To get an idea what the OP is whining about when he talks about "Obama's obsession" with raising taxes on the rich.

This last little bar on the far right is what they are crying about.

http://yglesias.thinkprogress.org/wp.../top_rates.jpg

[Fiddlehead]

Originally Posted by zz4guy

I'm sorry but that makes no sense. The elderly and the poor have not gone away since Obama was elected, yet he has increased government spending by 3 times what it was at any time during the Bush years.

Don't be a moron. What has the expenditure been other than to bail out the financial sector, which crashed and burned after a decade of deregulation? There is no way that Obama increased domestic and military spending 3x. The point is, Bush's tax rates were unsustainably low and expenditures ridiculously high throughout the housing boom, and noone raised an eyebrow. When the fool's gold ran dry, everyone is suddenly a fiscal conservative.

The tax rates during Clinton's era seemed to work. The Bush era was a pipe dream. We need to return to reality. Get over it.

[Agnapostate]

It's an application of a rational economic principle, the law of diminishing marginal utility.