Posted on 02/09/2015 10:17:39 AM PST by Citizen Zed
President Barack Obama said he’s focusing the end of his presidency on increasing income equality because the recovery’s benefits haven’t spread to the middle class while enriching the wealthiest Americans, according to an interview he gave to website Vox.com.
In a Jan. 23 interview published Monday, Obama said it’s necessary to use tax policy to boost the economic outlook for teachers, construction workers and other middle- and lower-class Americans because so much wealth is concentrated with corporations and the wealthiest individuals.
“What we’ve proposed, for example, in terms of capital gains, that would make a big difference in our capacity to give a tax break to a working mom for child care,” Obama said of his tax proposal on which he hopes to work with congressional Republicans to pass.
“That’s smart policy, and there’s no evidence that would hurt the incentives of folks at Google or Microsoft or Uber not to invent what they invent or not to provide services they provide,” the president said. “It just means that instead of $20 billion, maybe they’ve got 18, right? But it does mean that Mom can go to work without worrying that her kid’s not in a safe place.”
(Excerpt) Read more at newsobserver.com ...
Let’s completely destroy the free market system and then introduce government as the savior for all.
Like living in a Soylent Green movie.
Obama has massive wealth....he needs to lead by example...
Until then...STFU...
Hey Dopey, this is exactly what the Fabian Socialists of Britain and Sweden and the rest of Europe said in the 50s, 60s and early 70s. Raise tax rates to 90% on "the rich" and they will still work hard and produce, they just won't make as much. In essence, higher taxes don't reduce incentives. There have been volumes written about how wrong that infantile philosophy was.
So you get to decide how much money is enough for someone to make and what “Their Net Worth Ought to Be?”
IF the LEFT REALLY wanted to shift tax, they would eliminate the income tax completely, which aids the middle class TREMENDOUSLY, while implementing the Fair Tax system.
However, THAT would take power FROM the Federal government, something our elites will never agree to do.
The list, Ping
Let me know if you would like to be on or off the ping list
I think any guy from Kenya who can afford to buy mansions in California and Hawaii needs to have their “wealth” taken away. Especially if they cannot prove that they ever had a real job in their life.
Maybe he ought to complain about that to the guy who's been in charge the last six years.
I LOVE it when he talks like this! It means I’m going to get a big fat RAISE as he’s spreadin’ the wealth around, Right?
Wait...WHAT? I’m not? Since I’M so WEALTHY, he’s just gonna STEAL what I’ve worked hard for and give it to someone below me on the Food Chain?
What a clueless j@ck@ss.
Don’t forget: Keeping your job is the new, ‘raise,’ Comrade!
He also won’t take any action that would shift the burden to his super rich contributors like Oprah, Soros, or Buffett.
I want to see an 80% tax on the assets of every registered democrat to help pay for cleaning up the mess they’ve made.
F*** all democrats.
I remember around 1980, I was doing some work with an engineer who used to go abroad to Europe. He remarked that when they needed some extra work done for a project in Sweden, it was tough to get the engineers to put in the extra time, because tax rates were so high. They had to bribe them with "things" under the table, like Levi jeans, because in the presence of a 90% marginal rate, no one wanted to work any more than they absolutely had to.
He certainly doesn't hate "the good life" ... He and Moochelle have been living boogy high on the hog since Election Night 2008.
No, he's very selective in what he objects to.
If he proceeds as he would like to, he'll achieve "leveling" by running all the well-to-do off to New Zealand and Lichtenstein.
What recovery? What benefits? Barry O'Williams is making sh!t up again!
Hey, he doesn't have to be correct and he doesn't have to be right. He just has to sell it.
Politics, remember?
Except for his wealth, of course.
A totally myopic statement of philosophy.
My sister has 9 children who are now middle aged. Not one of them was able to qualify for a student loan for college because “they had too much money in their bank savings accounts”. You see, every one of them got a newspaper route when they were about 8-9 years old. They saved their money, and the newspaper gave their carriers the choice of gifts at Christmas time That is how they got their snow boots for the long Minnesota winters. Then when they turned 16, they all got jobs at fast food restaurants.
When her children reached college age, they were denied any consideration for student loans. Yet, a couple down the block had two children, and they spent all their money every weekend in the summer with their very large boat and motor. They did not believe in saving. So, their two children qualified for student loans and my sister’s kids did not.
I have often wondered how those two children turned out. They are probably Democrats who are happy to get handouts. My nieces and nephews, OTOH, are all successful with decent jobs and married with children. As far as I know their children are also all Conservative voters, and they still attend church on Sundays. So, you might say, they avoided a government handout, and learned some valuable life lessons too.
I think it was only the discovery that he and his wife put 240K in their kids’ 529 plans that the “let’s tax 529 plans” proposal died.
Their hypocrisy, though, seems to know no bounds.
Your sister’s kids would have been better off stashing their money at home instead of a bank savings account.
No one would have been the wiser, and your nieces and nephews would have qualified for the student loans.
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