Friday, September 30, 2011

Obama Deficit Plan to tax the rich

Republicans lament the tax hikes for the wealthy that Obama has proposed to alleviate some of the pressure on the budget. He also wants to make taxation a bit more equitable, or at least equitable in his eyes. I get the idea that taxing the rich would impede the incentive to create more jobs (let the job markers create more jobs rather than letting the gov't waste that money). Part of me actually doesn't care much if the super rich have their taxes increased. Lately it seems greed is the name of the game, whereas before greed meant more money (thus more jobs), now greed leads to more yachts, not more jobs. I also don' tbuy the argument that this will 'split' America. Enough of the stupid fear rhetoric please. 5% of Americans have a million or more in annual income. Last I checked that's not 50%. Everyone has to do their part and it will be a combo of higher taxes for some, lower taxes for others, less spending (dare I say the military is included, yes I do), and the multitude of other government inefficiencies.

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