Obama on Bush's Tax Cuts
President-elect Obama seemed to have a better feel for his tax policy during his general election campaign (and it wasn't very firm back then either as you can see from this clip). He's recently put all options on the table (including his bonus tax for the 95% highest income bracket, repealing president Bush's tax cuts, and removing both of these taxes).
In any case, Obama has admitted that the economy prospered under George W. Bush and this is why his tax cuts worked so well for generating government revenues.
Also: Obama's best card is his style (and that isn't a superficial card to play). Unfortunately he loses it a bit here in the rough and tumble interview with O'Reily.
posted by Matthew Canonicus at
11:36 AM
3 Comments:
Here is what O'Reily was trying to say and the Liberals do not like to hear "If you tax the rich and the corporations they are not just going to go with it. They will figure out a way to keep their money. The rich will stop investing. Corporations will cut staff." What does all of this mean for the 'waitress'? The rich will stay rich. The poor will stay poor. Why? Because the rich investing enables the poor to continue working and obviously corporations cutting jobs, well that is just common sense, no job and you lose.
I will not pretend to be poor, I am not fiflthy rich either but I am in the higher tax bracket and my husband is a business owner. He has two people lined up for 'release' depending on what the government does under Obama's administration. As my husband puts it, "The quickest influx of cash into a company is freeing up salaries. That is how we will pay for our increase in taxes both personal and corporate."
Yeah, that's a good point, Lucy. Companies don't pay taxes, they pass them off to their customers (which include working folks).
Yeah, that's a good point, Lucy. Companies don't pay taxes, they pass them off to their customers (which include working folks).
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