The key point from President Obama's speech:
"Either we have to ask the wealthy to pay their fair share, or we have to ask seniors to pay more for medicare, or gut education," he continued. "This is not class warfare. It's Math."
It's true and it's understandable by most folks. This is the war we must fight in 2012.
"Today, I'm releasing a plan which details how to pay for the jobs bill, while also paying down our debt over time," said Obama about his recently-released plan to ease the nation's unhealthy unemployment rate.
"Washington has to live within its means," continued the president. "For us to solve this problem everybody ... has to pay their fair share."
Obama added, "I’m proposing real cuts to spending. These would be among the biggest cuts in our history ... This plan eliminates tax loopholes that primarily go to the largest corporations."
"We can’t afford these special lower rates for the wealthy — rates, by the way, that were meant to be temporary."
http://www.msnbc.msn.com/...
Grandma's medicare or a billionaire's 5th yacht?
Your child's college education or a billionaire's private island?
You get the picture.
"Either we have to ask the wealthy to pay their fair share, or we have to ask seniors to pay more for medicare, or gut education," he continued. "This is not class warfare. It's Math."
Update I:
Many details here:
Fact Sheet: Living Within Our Means and Investing in the Future - The President’s Plan for Economic Growth and Deficit Reduction
The President’s Plan for Economic Growth and Deficit Reduction lives up to a simple idea: as a Nation, we can live within our means while still making the investments we need to prosper – from a jobs bill that is needed right now to long-term investments in education, innovation, and infrastructure. It follows a balanced approach: asking everyone to do their part, so no one has to bear all the burden. And it says that everyone – including millionaires and billionaires – has to pay their fair share. Overall, it pays for the President’s jobs bill and produces net savings of more than $3 trillion over the next decade, on top of the roughly $1 trillion in spending cuts that the President already signed into law in the Budget Control Act – for a total savings of more than $4 trillion over the next decade. This would bring the country to a place, by 2017, where current spending is no longer adding to our debt, debt is falling as a share of the economy, and deficits are at a sustainable level.
Update II: From the comments.
here's another great quote (1+ / 0-)
Recommended by:TomP
"I reject the idea that asking a hedge fund manager to pay the same tax rate as a teacher or a plumber is class warfare." ~ President Barack Obama
by manyamile on Mon Sep 19, 2011 at 12:43:45 PM CDT
Update III: From Bill in Portland Maine:
Obama also quoted George Washington..... (1+ / 0-)
Recommended by:TomP
...who said that taxes were, in effect, a necessary evil that would always be bitter but required medicine.
So now when you see Republicans bashing Obama over the very notion of taxes to help pay for the general welfare of the country, just insert "The Father of Our Country" in its place and see how idiotic they sound.
I knew George Washington. George Washington was a friend of mine. You, Senator McConnell and Congressman Boehner, are no George Washington.
-
Donate to support C&J here. Thanks!
by Bill in Portland Maine on Mon Sep 19, 2011 at 12:23:07 PM CDT