Obama really for increasing taxes?!!!?

Question

Is this true, and if so how much? How much will this effect recent college graduates who are barely making a living with the way taxes are now?

Answer 1

The President cannot raise or cut any taxes.  The constitution only gives power to Congress to tax.

But no, the only way it will effect  recent college grads is the private sector won't have the money to provide jobs.

Currently, the top 5% wage earners, pay 60% of the taxes. 97% of income tax taken in by the government, is paid by the top 50% wage earners.

Answer 2

Taxes are not what you send the government = taxes are what the government spends.

As such, Bush and the neocons abandoned Republican principles of balanced budgets and reducing the deficit in favor of deficit spending and tax cuts for the rich.

Regardless of who is elected taxes will have to be raised to pay our now enormous debt (google national debt).  The alternative will be to break the contract with the American people regarding Social Security and other social programs that working people have relied on for decades.

Answer 3

YES across the board, he says that people really dont want to excell they only want to "make it" so he will take all the money and distribute it so that people can make it, businesses will close and the economy will fail.

For two people making a combined income of 97,000 (which is not very good) their tax will be 43,000 so that in essence all they will actually realize is 54,000 dollars, if they have kids that will put them into a poor status literally!

I would rather make my own money and decide where it goes the government gets enough already and OBAMA wants them to get MORE!

Answer 4

Exactly what taxes are you paying, oh young college graduate?

Almost one-third of all Americans (91 million) pay NO income taxes already, because of low tax rates and tax credits.

Answer 5

yes he is raising taxes across the board.on the supposed rich! and oil and capital gains for everyone.that is you and me.so when he raises taxes the companies will only increase their prices to cover the taxes put on them by the new rates.this means you will get less for your money than you do now no matter if you are rich or poor!

Answer 6

... with so many "free" things being offered, the middle class will eventually cease to exist... leaving a tremendous gap between the rich and the poor.

To the first answer, it's great sounding that those who don't make over $250,000 won't see a tax increase, and those who make under $75,000 will recieve a $500 tax credit. But where are these $500 going to come from? That I recall, MILLIONS of Americans make under $75,000 and there is that  little issue with our economy sinking. So I think that eventually, that will just bite you back.

I completely agree with WHIP. Increasing taxes on those who make over $250,000  up to those on the top 3% tax bracket will include many many businesses. Higher Expenses = Higher Costs. And I have not seen anyone getting a raise... so that will make your purchasing power smaller.

To Steve Miller 5, I am also a college student, and DO pay for taxes... so I dont know what you are talking about. That I know of, EVERYONE with a job is paying for taxes just like everyone else. College Students/Grads =/= Welfare

Answer 7

Who cares how much our taxes are? It's what do we get for the money is the question.

Answer 8

I agree with the first posters answer

Answer 9

i think its gonna be ok if gas goes down n other stuff goes down to plus u get taxes back right???