2012 May 24 |
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economy/finance

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Over the course of the year President Obama has spent a lot of effort telling Americans how wealthy individuals and corporations should contribute more of their money to taxes. The boldest of these efforts was during his September 8 jobs speech:

I am also — I’m also well aware that there are many Republicans who don’t believe we should raise taxes on those who are most fortunate and can best afford it. But here is what every American knows: While most people in this country struggle to make ends meet, a few of the most affluent citizens and most profitable corporations enjoy tax breaks and loopholes that nobody else gets. Right now, Warren Buffett pays a lower tax rate than his secretary — an outrage he has asked us to fix. (Laughter.) We need a tax code where everyone gets a fair shake and where everybody pays their fair share.MORE

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Most economic conservatives are understandably criticizing Speaker of the House John Boehner for reportedly compromising on the budget by either agreeing to some increases in revenue, or worse, agreeing to repeal the Bush tax cuts (although now it appears he’s walked back from this).

I hold a slightly different opinion that he might be on the right track, depending on the details.MORE

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One of predominate themes I’ve noticed in liberal communities is the notion that we in the working and middle classes (i.e. most of America) are somehow voting against our interests. That, by voting for politicians with conservative values, we are doing wrong by ourselves. That if we’re not voting in support of more government, we will make our lives more difficult, because government is not there to provide for us.MORE

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