Quoted: President Barack Obama on Unfairness
"Keep in mind, when President Clinton first proposed these tax increases, folks in Congress predicted they would kill jobs and lead to another recession. Instead, our economy created nearly 23 million jobs and we eliminated the deficit. Today, the wealthiest Americans are paying the lowest taxes in over half a century. This isn’t like in the early ‘50s, when the top tax rate was over 90 percent. This isn’t even like the early ‘80s, when the top tax rate was about 70 percent. Under President Clinton, the top rate was only about 39 percent. Today, thanks to loopholes and shelters, a quarter of all millionaires now pay lower tax rates than millions of you, millions of middle-class families. Some billionaires have a tax rate as low as 1 percent. One percent.
That is the height of unfairness. It is wrong. It’s wrong that in the United States of America, a teacher or a nurse or a construction worker, maybe earns $50,000 a year, should pay a higher tax rate than somebody raking in $50 million. It’s wrong for Warren Buffett‘s secretary to pay a higher tax rate than Warren Buffett. And by the way, Warren Buffett agrees with me. So do most Americans — Democrats, Independents and Republicans. And I know that many of our wealthiest citizens would agree to contribute a little more if it meant reducing the deficit and strengthening the economy that made their success"
- President Barack Obama at a speech in Osawatomie, Kansas on Tuesday, December 6, 2011
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- Blade 7184 aka Peter
1 comment:
If he keeps spreading a message like that, and the economy continues to improve, however small it may be, he will win again. He must. We cannot go back to the way things were before the financial collapse of 08. Sure people did well, but now we're paying for it. Well, most of us anyway. The 1% are still doing great, compared to the rest of us, but obviously that's not enough. They want to go back to deregulation, that brought them in so much money by eventually harming the rest of us. They don't care what harmful mortgages or unlimited fees from credit cards and checking accounts will do to this country and it's people. If the 99% goes into poverty under another depression the 1% will survive as the ruling class, but what's so sad is that they already control so much already. From politicians, to the supreme court and even the presidency. They say what goes. We're only fortunate to be under an administration that, while still accepting their money, will support and promote laws to keep them under control for the better of our country and its' people. That's why this next election is so vital, so important, the very existence of our democratic country as we know it depends upon the success of Obama. Protesting is important too, but our best strategy to send a message to the elite and help fight against their return to the ways of the past, is to vote Obama come November 2012. I will. Will you join me?
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