Introduced as the, "Buffett Rule", Obama's tax plan is a proposal to be enforced on those who are taking in an income greater than 1 million annually. In the long run, this may be the wisest move for the economy, as the market would begin performing better if the deficit and unemployment rate were decreasing. The wealthiest of individuals make their money through investing, and by investing a bit more in taxes they may see greater returns for their dollar.
The world wide greed that has destroyed the economy over the last decade will not improve without some cooperation from all sides of the political spectrum. Congress contributed to our nation's fall, yet so many of them feel the consequences should lie on the middle and lower classes. Suggesting they pay at least an equivalent rate to those who have less is "class warfare", according to some.
With the exception of Warren Buffett and the Patriotic Millionaires, there are very few individuals who request to pay higher taxes. None that I'm aware of, as they are in a class of his own. Warren Buffett sees the world from a different angle than some of peers who hold power in congress. He sees the return that could come upon the nation by the contributions deriving from those who would feel it the least.
It's going to be a tough sell to either side of the poll. More than likely, Obama will gain greater support on this tax hike from his democratic party than his republican opposition. If there were any republicans who agreed with the idea of taxing the wealthiest individuals to help improve the state of this great nation we live in, they would cast a nay vote because the proposal came from Obama.
Obama supports the idea that everyone pay their fair share of taxes. He suggests it is unfair for those who make less to pay a higher percentage rate than those who have done well. Steve Forbes completely disagrees with Obama's proposal. He believes that the tax code should be simplified, and there should be a flat tax where all Americans pay the same rate on income across the board. Not at all what Obama's suggesting.
The world wide greed that has destroyed the economy over the last decade will not improve without some cooperation from all sides of the political spectrum. Congress contributed to our nation's fall, yet so many of them feel the consequences should lie on the middle and lower classes. Suggesting they pay at least an equivalent rate to those who have less is "class warfare", according to some.
With the exception of Warren Buffett and the Patriotic Millionaires, there are very few individuals who request to pay higher taxes. None that I'm aware of, as they are in a class of his own. Warren Buffett sees the world from a different angle than some of peers who hold power in congress. He sees the return that could come upon the nation by the contributions deriving from those who would feel it the least.
It's going to be a tough sell to either side of the poll. More than likely, Obama will gain greater support on this tax hike from his democratic party than his republican opposition. If there were any republicans who agreed with the idea of taxing the wealthiest individuals to help improve the state of this great nation we live in, they would cast a nay vote because the proposal came from Obama.
Obama supports the idea that everyone pay their fair share of taxes. He suggests it is unfair for those who make less to pay a higher percentage rate than those who have done well. Steve Forbes completely disagrees with Obama's proposal. He believes that the tax code should be simplified, and there should be a flat tax where all Americans pay the same rate on income across the board. Not at all what Obama's suggesting.
