Look Alex, Paul Ryan has some very legitemate points to be made about cutting spending on entitlement programs, and even on reducing taxes as an economic stimulus. However, Obama only wants to let the tax rate on the top 3% of earners increase by 3%. That kind of increase is not going to be a significant disincentive. The entitlements issue is another thing entirely, but the fact of that matter is that Obama is moderate and pragmatic on the issue and while he may oppose the big cuts Ryan supports, he has allowed lots of cuts to be made and isnt proposing to increase spending but rather just maintain it.. and maintaining spending will prevent the decline in economic activity that is associated with reducing government spending. The real big issue when it comes to economics in this election has nothing to do with the debt, because Ryan wants to cut spending AND reduce taxes, which isnt going to reduce the debt because they balance eachother out. The real issue has to do with regulations. The recession was due to a poorly regulated financial sector that was allowed to take risks it shouldnt have taken. Ryan would repeal the Dodd-Frank act that helps to prevent those kind of behaviors in the financial sector. Remember this recession isnt due to Obama or progressive policies, its due to actions in the financial sector that happened before Obama was even in office. And we are pulling out of the recession slowly but surely... but unlress you want another big boom and bust cycle to happen and dont mind another big recession to occur then we need to have someone in office who understands that the markets do not regulate themselves.
If Obama taxed the top 3% by 3% it wouldn't make a dent in generating revenue that would make a difference on the massive spending by this administration. Further more that's a complete lie.
This is what Obama and the democrats have proposed. Not the BS talking points but this is what's on paper. If you and your wife are making $250 K the tax rate will go from 35% to 40%. That is $12500 dollar increase. Social security tax is paid on the first $106 K and they want it on the whole amount so another 8 K. Eliminate the state and local tax deduction making the figure at 8% will be another $7500. Mortgage of 2 K a month the deduction will be eliminated so it will lead to another 8 K. So what Obama and the Democrats have put in print on what they want will lead to a 40% increase in taxes.
If you make a combined $150 K it will cost you 15 K on the scale proposed. Combine this on the changes the Obama and the democrats want to capital gains on the sale of your house you have the most massive tax increase in history.
The economy went to hell when the democrats took over the House of Representatives and the Senate on January 3, 2007 under Bush. This was when they took over spending and control of the Banks. The economy was running great prior to this. Then Democrat Barney Frank took over House financial committee and Chris Dodd took over the Senate Banking committee. In 15 months the meltdown was almost complete over their regulation that included Senator Obama. The 6 trillion in risky loans that the democrats regulated with Fannie Mae and Freddie Mac were a disaster on a scale that nearly led to a depression. Bush said 17 times starting in 2007 that Fannie Mae and Freddie Mac were being regulated in a completely irresponsible manner but the Democrats wouldn't listen. Budgets and spending were controlled by the democratic congress. That massive omnibus spending bill in 2009 was pushed by Nancy Pelosi and Harry Reid was signed into law.
If the Democrats inherited a bad economy they inherited it from themselves and their reckless spending.
Stop drinking the cool aid and get out of the line. This country is being run into the ground by liberals that feel big government is what we need. We can't have the workers pay for the slackers by taking more of their wages by taxes. The weaker this country gets the stronger the support for Obama becomes.
