If four years of unfulfilled promises, inactive initiatives and the NDAA proposal weren’t enough, Mr. Barack Obama, our American Republic’s proudly chosen President/Orator has brought in more controversy this year. And yet he is confident enough of winning the coming elections and be re-elected as President. Well, if the American public hasn’t learned anything from the Bush Administration, he surely will.
An estimated 45 million viewers in America were expected to tune into President Obama’s budget proposal for the year 2013. And this included the buzzing controversy that is around, he has proposed an inclusion of a new tax law, because of which the tax will be increased on the rich. This struck the rich like a Hashishin’s dagger for it was unexpected.
It was Obama’s third and last State of the Union address before the elections in November. He was defiant about his proposition as he put his point that in order to do justice to America’s middle class and to improve the condition of the economy, the millionaires and billionaires need to be the scapegoats and pay more taxes.
For a nation to function properly, to prosper and to grow crops of success, it needs a financial backbone. This financial backbone is reinforced by the government, which must have a healthy amount of super money for its budget plans. If the budget is weak, it dries the nation’s throat and leaves the economy coughing.
And this is what exactly is happening in Obama’s shallow and deranged administration. And that is why his party needs more money to execute his various plans for the betterment of the American people.
He has vaguely spent the taxpayer’s money on expensive projects that have failed to achieve what they were promised to and has made the economy unstable. Instead of uplifting this faltering hope, Obama says no to America’s motto of success.
“We need to change our tax code so that people like me and an awful lot of members of Congress pay our fair share of taxes.”
Obama’s budget plan for 2013 is structured around moving forward with his spending plan and for this he has targeted the rich so that he garners more money to support his plans. He justifies this action saying that this is genuine as the rich do not pay their fair share of taxes.
Saying this, he neglects and avoids the fact that many corporations get away without paying taxes at all, thanks to deals signed with Obama’s administration.
His decision is inspired by his buddy, Warren Buffet’s proposed rule of 30% tax on people who earn more than $1 million annually. Warren Buffet says that rich people, him included, don’t pay enough taxes.
“You can call this class warfare all you want, but asking a billionaire to pay at least as much as his secretary in taxes, most Americans would call that common sense. We don’t begrudge financial success in this country. We admire it.”
His push toward this plan can be proved as shallow by the following facts:
Warren Buffet says that rich people do not pay enough money in taxes.
People who make over $250,000 do not qualify for the special tax breaks that are allowed for Warren Buffet and this makes them pay a lot more percentage of income in tax than the Wall Street Guru does.
The top 1% of the tax payers, those who make over $350,000 annually is responsible for paying out 28% of all the enforced federal taxes. And this top 1% is just 1% of the tax payers yet they have to pay over 28% of income tax.
In spite of the Republican’s ire, the Democratic Party plans to go ahead with its tax raise on the rich as it blames the Republicans for failing to fulfill their own plans.
In reply to the Republicans’ remarks, the Democrats say they have invested in clean energy, have updated laws related to the problem of illegal immigration, have funded projects on new infrastructure, have overhauled social security, and have ended the Bush administration’s partial tax cuts for America’s wealthiest.
Obama’s three day nationwide tour, a tradition after every state of the union address, was much criticized by the Republicans as he visited the crucial vote winning states for the November election i.e., Arizona, Iowa, Colorado, Michigan and Nevada. The Republicans blamed him for using taxpayer’s money for his personal vote garnering benefits.
If there are more of these plans in offer by President Obama then the possible fall of the American dollar is imminent. He must understand that it takes more than just perfect oratory skills, vibrant dreams and lofty yet inactive plans to run a country like the United States of America or any other administration in the world.
History repeats itself but it is up to the one in charge of rewriting history and building a successful economy.