Sunday, September 16, 2012

Taxes and the Economy- Election 2012

Obama and the Tax Issues- 2012

The following article is related to Obama and his tax issues and how the economy can be fixed.  This article demonstrates that Obama wants to fix the $14 trillion debt in the government.  "Obama is seeking to extend the Bush tax cuts for those making under $250,000, but has said repeatedly he is committed to ending the tax cuts for the wealthy."  As I was reading the article Obama stated that "he does not want to raise taxes on the middle class, but would raise taxes on the wealthy. The Buffet Rule, named for billionaire Warren Buffet that says millionaires and billionaires shouldn’t pay a lower tax rate than middle income earners, encapsulates much of Obama’s approach to taxes."  Obama mentioned that he would cut taxes if they earn less than $200,000 individually and $250,000 if married.  In comparrison Romney said that it would hurt small bussiness owners if they have a $250,000 income.  Obama stated on CNN, "What drags our entire economy down is when ... the gap between those at the very, very top and everybody else keeps growing wider and wider"
-- President Obama, April 2012
 
 
http://www.cnn.com/election/2012/campaign-issues.html

The following website shows the pros and cons of Obama and Romneys issues on taxes and the economy.  http://2012election.procon.org/view.source-summary-chart.php

1 comment:

  1. i feel like it is very difficult to understand and keep up with politics when it comes to taxes. Im glad you put the effort to explain a little bit about it.

    ReplyDelete