San Francisco (Obama.net)- The dispute over whether or not the wealthiest Americans should get their tax cuts that were instituted by former President of the United States George W. Bush extended as well is becoming one of the most heated debate topics in American politics today. As President Barack Obama is strongly opposed to giving the tax cuts to those Americans making over $250,000 a year, the Republicans are being adamant that he should give them to the wealthy. The Republicans are making the case that regardless of economic class; no one should have to deal with raised taxes in a time of economic crisis.
With Midterm Elections coming up on November 2nd, Obama is making the push for the tax cuts to be extended.
Monday, Obama made it clear that he wants the economy to recover and he wants the deficit to shrink as much as it can, as fast as it can. But Obama also made the point that he should not be blamed for the economic situation that was handed to him by the previous administration.
With even some Democrats opposing not extended the tax cuts to the wealthy, Obama and his administration are standing firm. 31 Democrats wrote a letter to Nancy Pelosi saying that they want to see the cuts extended.
But President Obama knows that the wealthy of the United States can afford the taxes and that the taxes would bring in close to a trillion dollars annually to help fight the economic crisis and deficit.
Obama said on Monday, “The first thing you do when you’re in a hole is not dig it deeper,” and that because of the deficit, he “can’t give $700 billion to some of America’s wealthiest people.”
Obama’s view is that the middle class of the United States needs to be protected and that the upper class is strong enough to fend for itself in terms of raised taxes.
Even Ohio’s Boehner has agreed to pass the measure if it is presented in Obama’s current view.
The odds of Obama’s plan passing are high. As his views may not be the most popular in the United States Senate, at the end of the day, it is more likely than not that the members of the Senate will pass Obama’s version of the plan rather than completely leaving all Americans in the hole with greater taxes to pay on an annual basis due to political games and positioning.
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What do you think of Obama’s tax situation? Leave your comment below.
Tax Cuts for the rich? LOL I bet those repubs would be cool with tax hikes for the poor and that the Rich shouldn’t even have to pay taxes at all. I bet they would love that idea. That’s how nuts the repubs are. And you hear crying from the repubs “If I have to pay more in taxes, I won’t be able to have as many employees with my company” Then don’t have as many employees are you now paying employees you don’t need out of kindness? The rich need the poor so don’t go talking like you don’t.
For every employee that loses his job, we will be assured you are paying enough in taxes to help out 5 employees worth of people in new funds in programs, So problem solved.
It’s rich Aholes like yourselves that made the country what it is today. Mr Bush had to give all his friends a tax cut.
Im the tax cutter…heh heh
Wow look heh heh….it really is all my fault!
It is hard for me to agree with Obama at time, but in this case I agree with his position. We had the tax cut for years and look what it did for us-a messup economic that had no future. I really will like those who are oppose to tell me how they plan to reduce the deficit when they are giving away billions of dollars to the rich.
yeah the richest people get richer and richer with tax cuts (while it destroys our country more and more all the time) Why not give a tax cut to those who make $20,000 a year or less that live paycheck to paycheck? This is the Person who will spend the money they don’t get taxed on for goods that they need, and this puts into the system and helps the economy. The Rich guy just sits on his money and it’s not being spent.