Actually, Obama didn't specify/qualify his statement at all. It was a blanket statement,
"I think when you spread the wealth around, it's good for everyone."
The fact is, those making $250+ are the ones employing the average citizen. They are the ones using that money to expand their businesses, creating more jobs so "
everybody behind you, that they've got a chance for success, too." (to quote Obama).
The top 5% of earners in this country are paying over 40% of all taxes collected. The bottom 1/3 pay no taxes at all. So to penalize them further is only going to stifle the economy and will not "
more than offset any increase in their taxes". These employers will cut back (they have less money to expand their business & add new employees, and ALL incentive to expand their businesses [and our economy] is gone, because they will be robbed of the incentive [profits] that got them into business in the first place.).
Our country was built on Capitalism. That is what has made us one of the richest nations in the world...Where citizens can apply themselves and become very successful and financially secure. America has always encouraged that. And because of that we have options afforded us that other nations can only jealously wish for.
"
The thinking is that those that make more than $250,000/year will benefit from the resulting increased spending by those making less, to more than offset the increase in their taxes."
They would benefit more by being able to keep what they rightfully earned. "We're going to take this money from you, but don't worry, you'll get it back, because the people who we give it to will come to your store and buy what you're selling with the money that was your's to begin with..." (HUH???)
We will stifle growth by raising taxes. Lower taxes gives people more money in their pockets to spend, thus stimulating the economy, thus creating increased taxable revenues.
Reagan did it when he came into office. Everyone cried "You'll ruin the economy!". But the recession he inherited from Carter, with it's 21% interest rates and 13% unemployment, quickly turned around and we had the strongest Peace-Time economy in all of American history! Tax revenues were WAY up, and people flourished. Carter was one of the worst Presidents we ever had (and he still can't keep his ignorant ass out of public affairs). Carter's agenda was tax & spend us into the poor house. Obama has taken several pages from the Carter play book, and history is bound to repeat itself again!
Please see my thread:
http://www.wickedfire.com/shooting-shit/42455-money-doesnt-add-up-tell-me-how.html
Where I ask the question, "How is Obama going to pay for his programs and not raise the Middle-Class' Taxes? No one has given me an anwser. I know there are a lot of Obamaites on this board, defending to the death...
Will someone please answer my question? I am very sincere, here. I don't go off topic and bring up "associations", foreign polocy, or anything except the FISCAL aspects of his proposed policies. That is my concern with Barrack.
If you know how he will pull this off without raising the middle-class tax rate, PLEASE help me understand.
Obama has voted to raise taxes 94 times while in office, including a Bill to raise taxes on people earning $42,000 a year! His actions and his words aren't lining up. He will have to raise our taxes to pay for his sweeping "Change" package. If not, tell me how it will be done.
I'm not happy with either of my choices for President. (I actually wanted to see Duncan Hunter get the nod for canidate, but...)
You convince me of how Obama can do what he says, and I'll vote for him!
As it is now, I'm having to choose between the lesser of two evils, and McCain seems to be the best choice, to me.
Please, SHOW ME THE WAY!!!