So Obama has been saying that 95% of Americans will pay less taxes and indirectly he says that the rest 5% will pay more taxes. Well... the top 5% create jobs and employ the rest of the 95% so dont you think that if Obama unfairly tragets their wealth, they will take their business elsewhere or off line? They will cut employments and salaries? After all dont they have to maintain and grow their profit margin so that they can survive and compete at the global level? Dont you think pass the wealth around is Socialist and Communist?
Here are some details
The wealthiest 1 percent of the population earn 19% of the income but pay 37 % of the income tax. The top 10 % pay 68 % of the tab. Meanwhile, the bottom 50 % - those below the median income level - now earn 13 % of the income but pay just 3 % of the taxes. These are proportions of the income tax alone and don?t include payroll taxes for Social Security and Medicare
Median income of Americans have actually fallen in the past few years which along with inflation has forced people to borrow more. This is due to the fact that jobs have been shipped overseas and Americans had to compete with cheaper labor. Instead of giving business incentives for running their operations in America if Obama taxes them more - wont the situation get worst ? According to the Chief Executive magazine, 75% CEOs ?fear? Obama.
Keeping an eye on them so that they dont run the companies to the ground and run away with money is one thing, but punishing them for making more money even if they are running a good business and bringing in profit is ridiculous IMO.
Discuss
Here are some details
The wealthiest 1 percent of the population earn 19% of the income but pay 37 % of the income tax. The top 10 % pay 68 % of the tab. Meanwhile, the bottom 50 % - those below the median income level - now earn 13 % of the income but pay just 3 % of the taxes. These are proportions of the income tax alone and don?t include payroll taxes for Social Security and Medicare
Median income of Americans have actually fallen in the past few years which along with inflation has forced people to borrow more. This is due to the fact that jobs have been shipped overseas and Americans had to compete with cheaper labor. Instead of giving business incentives for running their operations in America if Obama taxes them more - wont the situation get worst ? According to the Chief Executive magazine, 75% CEOs ?fear? Obama.
Keeping an eye on them so that they dont run the companies to the ground and run away with money is one thing, but punishing them for making more money even if they are running a good business and bringing in profit is ridiculous IMO.
Discuss