[QUOTE="CWEBB04z"] The U.S economy is heavily based on Consumer spending. Obama wants the rich to pay higher taxes to pay for a universal healthcare, and help teachers. Well that is not going to work.
If you tax the rich, they cant spend money, also the middle class will have a little more taxes to pay also, thus, less spending. What happens to retail companies? If they arent getting much business than they will have to cut employees, Unemployment rates affect the economy also, when that happens, Obama will help them with welfare, meaning with high uneployment, less money will go towards healthcare, and teachers, then it will become a whole mess. So it will not work.
GDP, Gross domestic product is the economies rate of trading goods, when businesses cut employees, and dont get enough customer spendings, they close down, and most likely move to other countries, so the less activity in trading, the economy will get worse.
Why do the rich have to pay more taxes? My grandmother makes about $60,000 a year, she tells me that yearly she pays $15,000 in taxes each year, when obama comes in office, it will increase to probably $20,000 in taxes a year, right now she barely has enough money left from mortage, bills, ect...This affects even the middle class.
We will be in the same shape we were in when Bush was in office. Bush had no control over oil, Alaska has oil, but to do that, we would have to drill in ANWR, and many people oppose to drilling in ths refuge, so we have to depend on the middle east, Iraq has one of the largest oil concentrations in the middle east, and they will not give us much oil to meet demands, and plus Saddam is a horrible dictator. So by attacking Iraq, Bush thought it would help our oil crisis. So dont blame bush for everything, he has no control over what the oil companies charge, or if a business cuts employees, he can try and help, but it is more difficult than you guys think.
When you guys get old enough to pay taxes you will understand.
pianist
I am old enough to pay taxes. The only thing you understand differently is that you don't like parting with your money, because you can't see the direct physical result of what it was spent on more often than not. You hear all these stories of corruption and waste, failing to realize that most tax dollars ARE well-spent maintaining the society that you are privileged to experience.
I am baffled, really, by this attitude held by so many that you should be able to enjoy modern society - all its protections, advantages, and infrastructure - for free, or for practically nothing. Sorry, but a government can't spend if it doesn't raise more income. There's only so much money to go around. So those who take the most need to pay the most. It can't work any other way. Frankly, I'd prefer to see the middle cIass taxes stay right where they are, but the money is going to have to come from somewhere else, then, and the only logical place to turn is the wealthy.
As for Bush... don't try to cover for him. If you look at what the debt was like before he came to office and what it is like now, then figure out how much more money is being wasted every year servicing the additional debt, you'll quickly come to realize that it was his idiotic tax policies that caused it. That's his fault. And that's the most grievous thing he's done as president. Not Iraq. Not the environment. Not social services. Bleeding the national treasury white by a refusal to make people pay what they should WILLINGLY pay for their society to continue functioning.
Clinton did a good job, getting this Country out of debt, but he didnt raise taxes like Obama wants to do, he only raised taxes to the rich by like 1%.
Also Clinton tried for universal healthcare, it did not go through and failed, even though we liked that idea, Obama wants to try for it again, but its going to fail again.
The wealthy dont have to pay for everything, the middle and lower income should contribute to society also. We cant just say, hey rich people pay the police, teachers, roads, buildings, that is too much to ask, it will be to much. Also the rich represent a small population, so how will that work? tax them more and more?
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