Posted on 09/17/2011 6:25:24 PM PDT by NoLibZone
WASHINGTON, Sept 17 (Reuters) - President Barack Obama said on Saturday that Americans need to be ready to "pay their fair share" to narrow the U.S. deficit, previewing his proposals to Congress that are expected to include more taxes on the rich.
In his weekly radio and video address, the Democrat said his $447 billion jobs plan that features tax breaks for workers and small businesses, plus funds for public works projects and schools, "will not add to the deficit. It will be paid for."
"On Monday, I'll lay out my plan for how we'll do that -- how we'll pay for this plan and pay down our debt by following some basic principles: making sure we live within our means and asking everyone to pay their fair share."
Obama has repeatedly argued for the wealthiest Americans to face higher taxes with fewer loopholes and exceptions as part of the effort to ensure the U.S. debtload remains in control.
He is likely to float more taxes on the rich, as well as companies getting some tax breaks, in his Monday suggestions to a congressional "super committee" tasked with finding at least $1.2 trillion in budget savings over 10 years. [ID:nS1E78F17K]
Republicans, who have raised the volume on Washington's fiscal problems as the November 2012 presidential election nears, see higher taxes on the wealthy as a problem for jobs, given that entrepreneurs and companies would be strongly affected.
In his party's weekly address, Republican Congressman Peter Roskam said Obama's barnstorming about the jobs bill had masked other constraints on the economy that are keeping people from getting back to work.
"Washington has become a red tape factory, with more than 4,000 rules in the pipeline -- hundreds of which would cost our economy more than $100 million each annually," Roskam said.
(Excerpt) Read more at reuters.com ...
GE paid no taxes, using creative financing. Obama needs to address that before anyone takes him seriously. Millionares will take their money and leave. Obama’s lack of experience is on full display.
GE paid no taxes, using creative financing. Obama needs to address that before anyone takes him seriously. Millionares will take their money and leave. Obama’s lack of experience is on full display.
Right. God willing, we have an all around GOP win in ‘12, and that will mean that investors will finally start investing in equities. However because of his obsequious support for Obama, many will investors will exclude the Leftist Buffett’s Berkshire fund. Leftist Buffett made his big money when Reagan’s economy produced a big bull market, now it is time for him to lose.
Just for the hell of it, let’s pass a wealth tax to include Buffett and Gates.
When will the roughly 50% of the wage earners that pay NO FEDERAL INCOME TAX pay their fair share? If 36% is good enough for Bill Gates, it's good enough for everyone.
I guess they want the American citizens to bailout the Bankers. Not going to be pretty.
One that the marxists will lose.
In fact, whats going to end up happening is that all of the stupid sons of bitches that vote for him and pay 0% income tax are going to get slapped with a national sales tax.
He wants a class war, the GOP should give him one.
“I create the debt. You pay it.”
When will the 50% who pay no federal income taxes pay their fair share? After all they voted for much of this crap.
The only income of his I am aware of would come under the heading "payola."
If 10% is good enough for God; who does the Government think it is to take more.
If he was so concerned about the deficit, he wouldn’t have funneled $550 million to a green company which had FAIL written all over it.
The guy gives me a migraine.
obama has a point....CLOSE THE GE/MSNBC LOOPHOLE NOW!!!! IMMELT: MAKE YOUR COMPANY PAY THEIR FAIR SHARE!!!
Problem is, Obama and I disagree as to what my fair share should be. What is the fair share for all the people who contribute nothing to society as working Americans slave to pay their bills? The irony is that they are the ones who seem to be crying for the wealthy to pay their “fair share” the most.
I am becoming increasingly convinced that America will never give up its out of control spending. It is going to take a complete financial collapse to get people's attention, and by then it will be too late to do anything about it.
Give me a fair voice in how the money is spent, and I won’t mind paying a fair share.
If you call Congress a fair voice you are nuts.
Both parties are made up of Senators and Congressmen who are rich, in love with their perks and think little of screwing over the American citizen.
They go in with great dreams of helping Americans, tey get a does of the perks, the easy living supplied by lobbyists, the free vacations and before you know it they are all corrupted.
You know, I’m really sick and tired of pricks in the government lecturing Americans that we need to “do our part” and our “fair share” and that we need to “sacrifice” because of the bad economy, high fuel prices, etc., etc. when they themselves are the very ones that created these “crises.”
Just so sick of it.
If you call Congress a fair voice you are nuts.
Both parties are made up of Senators and Congressmen who are rich, in love with their perks and think little of screwing over the American citizen.
They go in with great dreams of helping Americans, they get a dose of the perks, the easy living supplied by lobbyists, the free vacations and before you know it they are all corrupted.
I already pay more than my fair share, as do most of us. Is it the taxpayers' fault these clowns have wasted the wealth they've been given stolen?
I've been done dunned for thousands upon thousands of dollars for social security in my lifetime. Now that I am near retirement, what am I going to get out of it, nothing but more taxes.
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