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Saturday, November 10, 2012

Tax increase on wealthy will not fix deficit

I want to hear Obama's plan. Only raising taxes on the Rich will not help. Here are the numbers in this article.
More has to be done, including reform. So if this happens to expire and Obama blames the Republicans, he has another thing coming. Still dividing with his class warfare with people! It will be on him. He needs to stay in town and work through this like he said he would do. He is the Leader! Knowing him he will probably go on a trip before this ends, running away from Responsibility.


If the president has his way, his proposed tax increase on the wealthy earning more than $250,000 would generate $85 billion per year, according to the Office of Management and Budget. We are currently spending $10 billion per day and borrowing 40 percent of that. That means this whole tax ruse would cover 81/2 days of spending. That is why this is a sham that hates the rich. Cut spending and do not raise taxes. Politics is getting very close to the edge of the cliff.
Joe Macrina


http://articles.mcall.com/2012-07-19/opinion/mc-tax-plan-class-warfare-macrina-20120719_1_deficit-tax-sham

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