President Obama goes back to his original belief when he says the rich should pay "fair share" of the debt reduction. If valuable programs get cut, the President feels the wealthy should cover the nation's expenses, according to USA Today.
President Obama doesn't feel the lower and middle-class should carry the burden of paying the debt. He's promoting a "balanced" plan as negotiations, which have been stalled, play out in the House and Senate.
Parties are trying to raise the nation's $14.3 trillion debt plan while reducing spending for the future. The decision needs to be reached by August 2 when the Treasury Department says it may default on some of the country's bills. A two-step plan is underway to accomplish this before President Obama is granted more borrowing authority.
Prior to President Obama ever being elected, his views on the rich paying more in taxes and on debt was a popular platform among voters. It's a hot button topic for Obama, hitting a nerve with those in higher income brackets. Will this issue divide a nation even further?
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Comments: 6
"Will this issue [the rich, and taxing them] divide a nation even further?"
No, because the rich and their taxes are not what's dividing the nation.
It's the size of the government & the debt that has people "divided". Not the rich.
Go ahead americans...if you want less jobs and more unemployment then get on the side of Obama. Mr. President...nothing you have said for the last 3 years have been right....why should be now trust you on with this when you have been wrong every time.
President Obama is back to talking about te "oil company" loopholes, but does not mention the fact that American Electric Power, Boeing, Dupont, Exxon Mobil, FedEx, General Electric, Honeywell, International, IBM, United Technologies, Verizon Communications, Wells Fargo, and Yahoo ALL paid zero!!!!
Do we think that Obama is going to tell his friend Jeff Immelt of GE that the US is going to make GE start paying taxes????
President Obama again talks about the "corporate jet loophole" - BIG deal, it's a pimple on the butt of the problem!!!
DO we think Congress will pass REAL legislation to address this????
I think not!
Respectfully
I believe that if an investigation of Soros is done that it will show he is massively selling short and betting on a huge down turn in the economy. He will then funnel that money back to Obama so that he can reach his goal for his one billion dollar campaign chest.
Its always about the money....follow the money and you will understand why most people do the majority of things.
Obama doesn't want a deal....not yet...he needs the caos..which is why he keeps changing the starting line...moving the goal posts.....until Soros tells him to settle.