A Reconsideration of Obama's tax plan

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A Reconsideration of Obama's tax plan

Post  ExoticWhiteMan on Mon Oct 27, 2008 11:22 am

I've been thinking about Obama's tax plan, and I'm think it might be a better idea than Reagan's trickle down policy. Although I don't think businesses should face a heavier tax (it's heavy enough, and they would pass the cost to us, consumers), the rich themselves should definitely face some heavy tax. Even if they are taxed severely, they'll still have make many times more than the average income. And, as we all know, many of the rich, specifically celebrities, easily fall into wasteful lives and don't spend for a good cause like Bill Gates does. CEO's, as well, have popped up in many stories of excessive executive compensation, and are wasting the money they get from consumer spending on lavish excesses, rather than doing this country good. I'm losing my faith in the trickle down theory, because many businessmen are more interested in amassing as much money as possible rather than helping the less rich of this country. The only issue with his plan is waste. He better live up to his promise of cutting unnecessary spending, too, or his tax plan may won't do much good for us.
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Re: A Reconsideration of Obama's tax plan

Post  Gustavus_Adolfus on Tue Oct 28, 2008 8:21 am

he wouldnt tax small business, but the corporations.

and as an economist i disagree with the trickle down theory.

look at newark and camden....they put the convention center and other big shits in both cities in hope of getting smaller businesses etc.

the only business that is in those two cities are the massive structures.

imagine if the government spent the 100 million dollars of tax payers money on police and start ups for small businesses in camden and newark......imagine.
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Re: A Reconsideration of Obama's tax plan

Post  ExoticWhiteMan on Wed Oct 29, 2008 11:13 am

Kind of irrelevant here, but today there was a funny comic in the Press. Obama has a bunch of big money bags, and someone congratulates him on raising $150 million in one month. Then, someone else comes up and takes one of the bags, saying, "John McCain doesn't have as much, so I'm spreading the wealth." Then Obama yells, "Get back here! That's MY hard earned money!" So the guy says, "Spreading the wealth isn't so great when it's your wealth being spread" and gives it to McCain. Yes, I know most Americans will get a tax cut, and that we don't sympathize with the rich (especially the trashy celebrities and fat cats), but I don't have high expectations for the dems tax plan. Obama might be one to want huge change, but I'm sure the dems in Congress won't be so thrilled about it and will be resistant to change. If the Congress still clings to corruption and keeps catering to the rich, Obama might be out of luck with his plan for change.
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