Why Obama can't spread the weath around

iVillage Member
Registered: 10-16-2008
Why Obama can't spread the weath around
80
Thu, 10-16-2008 - 10:36am

The problem is Obama will take $1 from Joe the Plumber and maybe end up giving a few pennies to someone in need. Big government doesn't work. When Carter left the White House he left a double digit jobless rate and high inflation. Reagan cut taxes across the board and jobs crew and inflation fell, meanwhile federal tax revenues ONLY dropped 1%. Obama says he's going to return to the Clinton/Reagan tax rates but that's not true, he's going to significantly increase payroll taxes and this will double the impact of his increase in the top marginal tax rate.

Pennsylvania Mom
http://openlettertobarack.blogspot.com/

Pennsylvania Mom http://openlettertobarack.blogspot.com/

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iVillage Member
Registered: 01-24-2007

Look, it happens to be cyclical.

iVillage Member
Registered: 09-08-2006

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You can't cut spending in this current economy when we

 

iVillage Member
Registered: 08-05-2004

***I just wanted to say that a lot of people are fine with people making over $250,000 getting the tax increase, but they shouldnt be.

iVillage Member
Registered: 01-24-2007
I think you can cut some spending. The wasted spending that doesnt further ourselves or our country. For example, I went to our cable company and got rid of some of the extras, its saves $20 a month.
iVillage Member
Registered: 01-28-2004

It's different when you are forced to give up what you earned compared to voluntarily doing so.


It's like if I came to your house and you had a better TV than me and I wanted it.

iVillage Member
Registered: 01-28-2004
That's not how the tax is normally figured, is this
iVillage Member
Registered: 10-16-2008
By contrast Obama proposes a 90 day foreclosure holiday. Pelosi had proposed this before. It means the mortgage company could not come take your home even after the lengthy foreclosure process and sell it to try to recoup their losses. It means the company holding the mortgage has to wait even longer to try and get their money back. Does anyone remember a time when companies holding mortgages were in desperate trouble and had to be bailed out by the government? Wasn't it a couple weeks ago? Sure, lets make them pay an even greater penalty to "save" the taxpayer from incurring any cost.
Pennsylvania Mom http://openlettertobarack.blogspot.com/
iVillage Member
Registered: 01-28-2004
iVillage Member
Registered: 10-16-2008

You know what I can do with my thousands (not millions) that my husband earned? I can pay a part-time babysitter for nights I attend a class. She lives in the poverty level and the extra $120 she earns from me every month helps her and her young daughter out. We pay nearly $500/mo to two different music instructors. One is a middle class married guy with no kids, he's a teacher in a local school district and does this to supplement his income. The other is a guy living on the edge of poverty with two kids to support. He gets 4/5 of what we spend on music lessons and he needs every penny, private lessons are his only source of income.

I recalculated what Obama's increases will cost my family average every month, it's $1,350. It's not hard to see where we could cut $600 in unnecessary spending every month. And you know what - three people will earn less as a result. They might get a $300 check from an Obama stimulus package but I think they'd rather work and earn the $1,440, $1,200, and $4,800, respectively than each get $300 for the whole year.

Pennsylvania Mom http://openlettertobarack.blogspot.com/
iVillage Member
Registered: 01-24-2007

"It sounds like you are advocating the "trickle down" theory of economics?"

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