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Oh the poor picked on billionaires! However shall they survive!
Obama is simply stating the facts. A small group has screwed over the economy and most workers for sheer greed. There's a huge difference between the war against the average American waged by the richest Americans and Obama's self defense of us.
Until everyone pays the same tax rate, everyone's votes should not be equal!
See how easy that is?
That's the status quo. It sucks. We're not supposed to have a plutocracy. Rich people should pay more in taxes because they have more to lose if society fails. Since the defense budget is defending a greater chunk of their assets they should be taxed to pay for it.
Oh the poor picked on billionaires! However shall they survive!
Obama is simply stating the facts. A small group has screwed over the economy and most workers for sheer greed. There's a huge difference between the war against the average American waged by the richest Americans and Obama's self defense of us.
Supposing that we accept your premise, what you have missed is that Obama is solidly in that 'small group [that]has screwed over the economy.'
You are ignoring the effect of the capital gains, very few in the top bracket actually pay the marignal rate, which is historically low. The change in the captital gains for the top brackets in the last 20 years along with the change at the top has favored the top few percent.
Tell me, was it class warfare when they decided to benefit those at the top, or was that just simply a change in the tax code.
We survived quite well in the 70's and 80's with far higher rates until they painted the welfare recipients as the problem, removed programs like food stamps, etc. it would amount to next to nothing.
We have lower taxes on capital gains because that money was already taxed. After that money was taxed, it was put back to work in the economy and invested, which is a good thing and something we want to encourage.
The bottom half of income earners in the US, after filing their taxes, are either not paying any income taxes at all, paying in less them 5% or getting back more money in their tax returns then they paid in.
I relly don't thni OWS started any of what the OP says it did. I fact its more a case of OWS tryig to take advanatge of public concern and combine it with other causes the majority coud careless about. I doig so they bascially turned of mcuh of the public to their entire movement.It certainly has turned into much polical movement pwer such as the limited movermant of the Tea party within either party.In mnay cases their problems i controllig the protest have focused more on problems they caused than what their agnda was. Few americans actually can see a clear message in the movement.
We have lower taxes on capital gains because that money was already taxed. After that money was taxed, it was put back to work in the economy and invested, which is a good thing and something we want to encourage.
The bottom half of income earners in the US, after filing their taxes, are either not paying any income taxes at all, paying in less them 5% or getting back more money in their tax returns then they paid in.
People will always disagree with this point though. They argue it keeps wealth in the hands of the few. I disagree, but people make that argument and hold firm on it too.
Since my government does not allow me to buy a home I can afford, I am being treated differently, and forced to pay a steep regulatory tax in the form of inflated rent.
We have lower taxes on capital gains because that money was already taxed. After that money was taxed, it was put back to work in the economy and invested, which is a good thing and something we want to encourage.
The bottom half of income earners in the US, after filing their taxes, are either not paying any income taxes at all, paying in less them 5% or getting back more money in their tax returns then they paid in.
Sometimes it was already taxed, sometimes not.
Let's say Jane's parents bought a home for $50,000, and the home is worth $500,000 when the parents die. Jane inherits the house with a tax basis if $50,000. When Jane eventually sells the house, $450,000 of capital gain will have completely escaped taxation.
It isn't true that the one group isn't contributing their fair share.
It is true that the other group is taking more than their fair share.
No. Although a certain amount of government is unavoidable, as a general rule the best person to decide what to do with any given dollar is the person who earned that dollar.
So on one side you've got Obama telling people what they should do with with their money. On the other side you've got Republicans trying to allow people to do what they want with their money.
See the difference? One of those things ( we'll call it "free market") has been proven effective at wealth creation and the other one one ( that is "command" or "planned" economy) has historically failed every time.
Finally something I can agree with. It does no good to demonize either the rich or the poor. There are good and bad people in both groups.
Question on taxes: how much of the discretionary income does the top 1% have? If they have at least 40%, it's hard to argue that they are paying more than their fair share.
Note: a childless burger flipper working full time at minimum wage pays at least $500/yr in federal income tax. Is that enough for you?
Funny you support a "free market" since a major obstacle to wealth creation faced by the poor is that government does not allow a free market in housing, where poor people would be allowed to buy homes they can afford.
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