It seems like rich people are more likely to own and operate businesses that employ people than poor people are. But Obama wants to raise taxes on the rich. I’m sure he means well, but what exactly does he think it will accomplish? If you were a rich business owner, and your taxes were raised, would you be more likely to hire more people and spend more money?
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1. February 2010 at 10:51 am
Obama wants to create jobs. A lot of those jobs will be government jobs like construction on new roads and such. The government needs money to create these jobs, and that money will come from the legislations of Obama and then from taxes. The rich can afford to have a little extra money taken from them but the rest of us who are already losing our houses and stuff will probably die if the taxes are raised for us. The thing is, our money eventually ends up in the rich people’s pockets anyway. ex. The rich own the companies that produce the goods that we can’t afford right now. The more money we make, the more we’ll buy from them, and then they’ll make more money. so if the government takes their money to give us jobs then the money we make will pay the rich back tenfold. This process make a take a little while but it’s a long term solution because once the rich have more money, they too can create more jobs.
1. February 2010 at 10:51 am
It’s a differentiation of economics at its base.
With Regan and Bush, we had a system in place called ‘trickle-down economics.’ In essence the focus with trickle-down is a larger emphasis on corporate businesses, corporations, and higher taxation on imported goods.
As such, products that are imported would cost more, so people would be more likely to buy American made products. Less taxes towards the upper class means, more money gets spent in their hands. While this worked during the Regan administration: It did NOT work with Bush.
The theory is that when businesses profit, the smaller classes profit with the leftovers of such expenditures.
With Obama, what you will see is another system called ‘keynesian economics.’ Keynesian economics has a base that taxing those who can ‘afford’ it allows the middle classes a bit of a break in this department, thus you have smaller amounts of money spent within these classes but on a grander scale percentage wise.
By creating jobs, Obama hopes that he can stimulate the economy, in much the same way war has stimulated the economy during the WWII era.
1. February 2010 at 10:51 am
Hey, Einstein, it’s not supposed to. It’s to pay for the budget, not the stimulus bill they passed earlier.
And you seem to be confusing personal taxes with business taxes. Business taxes are being lowered thereby making it more attractive for hiring. Personal income taxes are being raised for $250,000. That doesn’t do much in the hiring arena anyways.
1. February 2010 at 10:51 am
it will make the rich pay more, and soon wont be able to afford to operate there company,and if this starts happening to alot of compannys, there will be less jobs for the poor.
obama is not experienced…
when i tell kids youger that me, obamas plan is….
you go trick or treating on halloween, then obama will take you candy and give it to the kids who are to lazy to get there candy!
1. February 2010 at 10:51 am
To someone who doesn’t work or only makes minimum wage, everyone is rich. To someone who has never held a position higher than entry level, they do all the work.
But you are expecting people who think that way to understand higher levels of economics than they are capable of.
1. February 2010 at 10:51 am
no that is the problem, we need to lower taxes on the rich, so they can afford to hire more employees, making more jobs, and more money go out into the economy, that is why we need a republican not a democrat
1. February 2010 at 10:51 am
It will only make the government bigger. Bigger government requires more government spending and higher taxes. Higher taxes on those that have money will result in less economic growth and less job growth.
1. February 2010 at 10:51 am
This is 1 of the many issues dems cannot seem to understand! Tax the one’s that already pay the most? Kind of like rewarding the lazy with welfare! Stupid huh!!!
1. February 2010 at 10:51 am
Most business owners make well below $250,000 a year buddy!
1. February 2010 at 10:51 am
Dude, why tax the rich? See, it’s called trickle down economics. Like…when I buy my house I’m going to need slave…I mean servants who I’ll pay a cool minimum wage.
1. February 2010 at 10:51 am
It doesn’t. I taxes those people, gives it to the unemployed and to pay for a GIANT Socialistic Government
1. February 2010 at 10:51 am
its not about creating jobs its about punishing people who succeed
1. February 2010 at 10:51 am
It’s not meant for an increase in jobs, it’s increased for more government spending.
1. February 2010 at 10:51 am
Agree with Jeremie, I never saw a poor person hiring.
1. February 2010 at 10:51 am
It won’t. But rich people won’t riot. Poor people will.
1. February 2010 at 10:51 am
It created 22.4 million jobs under Bill Clinton.
1. February 2010 at 10:51 am
I’ll make it simple, no poor person ever hired me to do a job.
1. February 2010 at 10:51 am
It wont
1. February 2010 at 10:51 am
its call being a socialist