Why do the rich want tax cuts?
"70% cut to clean energy. A 25% cut in education. A 30% cut in transportation. Cuts in college Pell Grants that will grow to more than $1,000 per year. That’s what they’re proposing. These aren’t the kind of cuts you make when you’re trying to get rid of some waste or find extra savings in the budget. These aren’t the kind of cuts that Republicans and Democrats on the Fiscal Commission proposed. These are the kind of cuts that tell us we can’t afford the America we believe in. And they paint a vision of our future that’s deeply pessimistic. It’s a vision that says if our roads crumble and our bridges collapse, we can’t afford to fix them. If there are bright young Americans who have the drive and the will but not the money to go to college, we can’t afford to send them. Go to China and you’ll see businesses opening research labs and solar facilities. South Korean children are outpacing our kids in math and science. Brazil is investing billions in new infrastructure and can run half their cars not on high-priced gasoline, but biofuels. And yet, we are presented with a vision that says the United States of America – the greatest nation on Earth – can’t afford any of this. It’s a vision that says America can’t afford to keep the promise we’ve made to care for our seniors. It says that ten years from now, if you’re a 65 year old who’s eligible for Medicare, you should have to pay nearly $6,400 more than you would today. It says instead of guaranteed health care, you will get a voucher. And if that voucher isn’t worth enough to buy insurance, tough luck – you’re on your own. Put simply, it ends Medicare as we know it. This is a vision that says up to 50 million Americans have to lose their health insurance in order for us to reduce the deficit. And who are those 50 million Americans? Many are someone’s grandparents who wouldn’t be able afford nursing home care without Medicaid. Many are poor children. Some are middle-class families who have children with autism or Down’s syndrome. Some are kids with disabilities so severe that they require 24-hour care. These are the Americans we’d be telling to fend for themselves. Worst of all, this is a vision that says even though America can’t afford to invest in education or clean energy; even though we can’t afford to care for seniors and poor children, we can somehow afford more than $1 trillion in new tax breaks for the wealthy. Think about it. In the last decade, the average income of the bottom 90% of all working Americans actually declined. The top 1% saw their income rise by an average of more than a quarter of a million dollars each. And that’s who needs to pay less taxes? They want to give people like me a two hundred thousand dollar tax cut that’s paid for by asking thirty three seniors to each pay six thousand dollars more in health costs? That’s not right, and it’s not going to happen as long as I’m President." - Obama
Current Events - 7 Answers
Random Answers, Critics, Comments, Opinions :
1 :
Sounds like you've drank some of the Kool Aid. Do you know that the U.S. Government borrows $58,000 per SECOND? We can't afford all those things you just listed because of all the crazy out-of-control spending of the past at least 10 years. No household could live that way. If this problem would have seriously been addressed years ago, we wouldn't need to cut as drastically. But if we don't do some major cutting, there won't be ANY Medicare, Social Security, Medicaid. There is a lot of waste in those areas that should be addressed. But everyone in the country will have to sacrifice something to bring us out of this disaster we are headed for. But, if Obama has his way, we will be turned over to the rest of the world, and just be part of the one-world government he is striving for.
2 :
So the rich want to be richer. Also they claim that they are the job creators. To much rant after the question even if it is from a speech by Obama. You sound like a Democrat, but so am I.
3 :
Government isn't entitled to anyone's money, especially when it wastes it so spectacularly.
4 :
Where in the Bill of Rights is Education a guarantee? Show me where the Founding Fathers said Social Security was a Right? I don't believe Thomas Jefferson ever spoke of healthcare mandates either.
5 :
Because they are all greedy. They have all the power when it come to their income and ours. I remember when employers large and small, paid and honest wage to ALL of there employees. Not just the board members.. These companies still made a honest profit. There has always been a gap between rich, poor and the middle class but nothing like today. This is the same for medical care. I agree with you, good luck on getting your question answered. Yours is not a popular view on this site.
6 :
I might be called rich by many standards, and am of that rarest of species that wishes taxes would be raised. There must be both severe cuts and raised taxes to achieve even nominal fiscal responsibility. I think that's the huge issue, people refusing to acknowledge that both are needed. If I heard yes, severe cuts are needed from both sides, then we could start to talk about what. I'm a big fan a renewable energy, but another person might be a fan of defense spending. But we first need to acknowlege the need to cut. Same with raising taxes. If the majority would acknowledge that taxes must be raised, then we could start talking about what and how. Unfortunately, the default (no pun intended) is that we do nothing, and increase debt endlessly until our eventual ruin.
7 :
I think that simplifying the tax code and getting rid of freeloading programs across the board from Trump to the guy panhandling out on the street corner would handle the situation as a whole.
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