BARACK OBAMA - TAXES The entire American population has endured financial strains since the recession began in December 2007, most notably the middle class. Over the last decade, the average household income of the middle class has decreased by six percent (Obama). In addition, ten percent of middle class jobs were lost since the year 2000, causing more middle class families to fall into poverty (“30 Statistics That Show The Middle Class Is Dying Right In Front Of Our Eyes”). Because the recession has put the middle class through a lot during the recession, paying taxes has also become more difficult for middle class families. The wealthiest two percent of the American population, on the other hand, has seen an average salary increase of above twenty-five percent (Obama). Therefore, as the recession has not hit them as harshly, the upper class holds a prime position to help the government pay the national deficit. Despite the wide difference in average salaries, though, the middle class pays higher taxes to the government than the upper class (Obama). Due to various loopholes in the tax laws, the wealthiest Americans pay the lowest tax rates in over fifty years (Obama). Because the upper class utilizes these loopholes to avoid paying taxes, the middle class ends up with the burden of paying off the national deficit, despite struggling more with finances than the upper class.
“He puts the American middle class first and has delivered on his promises since the beginning. His policies have helped my family weather the great recession." - Kim-Ha
As the government searches for methods of generating revenue, President Barack Obama plans to act in favor of the middle class in regards to taxes. The middle class’s struggles can be attributed to the burden of having to fund the national deficit with their taxes, since the wealthiest Americans use loopholes to avoid paying taxes. President Obama acknowledges the plight of the middle class and states that the tax code must be fair in order to strengthen the middle class once more. It is simply unfair, according to President Obama, for upper class citizens that make millions of dollars per year paying as little as one percent in taxes while struggling middle class families pay higher tax rates. President Obama realizes that, to bring economic stability back to the United States, all citizens must contribute their fair share and the tax laws cannot only benefit the upper class. President Obama recognizes that the government cannot simply hand out tax cuts to every American citizen, yet fights to keep taxes for the middle class low and extend middle class tax cuts that were set to expire in 2012 to benefit 98% of working class families (“Issues – Taxes”). To ensure that the middle class gets some relief after being buried during the recession, President Obama deems it necessary to ask the upper class to help out more, since they are capable of doing so. As President Obama said himself, “It's wrong that in the United States of America, a teacher or a nurse or a construction worker, maybe earns $50,000 a year, should pay a higher tax rate than somebody raking in $50m.” (Obama)
President Obama’s stance on taxes embodies the purpose of the government to serve for the common good of the people. By advocating for the needs of the struggling middle class, President Obama recognizes that a country cannot allow tax laws to only benefit an upper class that is capable of helping out more (“Issues – Taxes”). To ensure that the deficit really does decrease, all Americans need to contribute their fair share, and the middle class is currently exceeding their fair share. By stating his plan clearly to extend tax cuts for the middle class and to ensure that the upper class increases their contributions, Obama presents his sympathy for the middle class. Since the middle class is the majority of the American population, Obama therefore represents the side of the majority of the country and works towards the common good. Governor Mitt Romney, on the other hand, promised that he would provide a five trillion dollar tax cut to the rich while decreasing the deficit and keeping taxes on the middle class the same as they were (Klein). Simply looking at the proposal, the mathematics behind Romney’s tax plan is not correct. According to an extensive study done on Romney’s tax plan, if he wants to implement a five trillion dollar tax cut on the rich, the spending cuts would have to be made either on programs for the poor or by raising taxes on the middle class, the latter being the more likely possibility (Klein). If Romney’s tax proposal was implemented, many middle class families would see their taxes increase and fall into even more financial difficulty than before (“Tax Cuts”). Romney either knows of the effects his tax plan will have on the middle class and is willing to implement it at the expense of the financial security of the majority of the country, or he remains oblivious of the consequences and is out of touch with the American people. Romney’s tax stance will only worsen the plight of the middle class, not relieve it. Because President Obama understands the plight of the majority of the American people and fights to relieve them of that plight, his stance on taxes is superior to Romney’s.
The entire American population has endured financial strains since the recession began in December 2007, most notably the middle class. Over the last decade, the average household income of the middle class has decreased by six percent (Obama). In addition, ten percent of middle class jobs were lost since the year 2000, causing more middle class families to fall into poverty (“30 Statistics That Show The Middle Class Is Dying Right In Front Of Our Eyes”). Because the recession has put the middle class through a lot during the recession, paying taxes has also become more difficult for middle class families. The wealthiest two percent of the American population, on the other hand, has seen an average salary increase of above twenty-five percent (Obama). Therefore, as the recession has not hit them as harshly, the upper class holds a prime position to help the government pay the national deficit. Despite the wide difference in average salaries, though, the middle class pays higher taxes to the government than the upper class (Obama). Due to various loopholes in the tax laws, the wealthiest Americans pay the lowest tax rates in over fifty years (Obama). Because the upper class utilizes these loopholes to avoid paying taxes, the middle class ends up with the burden of paying off the national deficit, despite struggling more with finances than the upper class.
"He Puts the Middle Class First"
Highlights of Barack Obama's Tax Plan
As the government searches for methods of generating revenue, President Barack Obama plans to act in favor of the middle class in regards to taxes. The middle class’s struggles can be attributed to the burden of having to fund the national deficit with their taxes, since the wealthiest Americans use loopholes to avoid paying taxes. President Obama acknowledges the plight of the middle class and states that the tax code must be fair in order to strengthen the middle class once more. It is simply unfair, according to President Obama, for upper class citizens that make millions of dollars per year paying as little as one percent in taxes while struggling middle class families pay higher tax rates. President Obama realizes that, to bring economic stability back to the United States, all citizens must contribute their fair share and the tax laws cannot only benefit the upper class. President Obama recognizes that the government cannot simply hand out tax cuts to every American citizen, yet fights to keep taxes for the middle class low and extend middle class tax cuts that were set to expire in 2012 to benefit 98% of working class families (“Issues – Taxes”). To ensure that the middle class gets some relief after being buried during the recession, President Obama deems it necessary to ask the upper class to help out more, since they are capable of doing so. As President Obama said himself, “It's wrong that in the United States of America, a teacher or a nurse or a construction worker, maybe earns $50,000 a year, should pay a higher tax rate than somebody raking in $50m.” (Obama)
Why Romney's Tax Plan WON'T Work
Comparing and Contrasting Obama's Tax Plan... And Showing How Romney Will Add 5 Trillion Dollars to the Deficit
President Obama’s stance on taxes embodies the purpose of the government to serve for the common good of the people. By advocating for the needs of the struggling middle class, President Obama recognizes that a country cannot allow tax laws to only benefit an upper class that is capable of helping out more (“Issues – Taxes”). To ensure that the deficit really does decrease, all Americans need to contribute their fair share, and the middle class is currently exceeding their fair share. By stating his plan clearly to extend tax cuts for the middle class and to ensure that the upper class increases their contributions, Obama presents his sympathy for the middle class. Since the middle class is the majority of the American population, Obama therefore represents the side of the majority of the country and works towards the common good. Governor Mitt Romney, on the other hand, promised that he would provide a five trillion dollar tax cut to the rich while decreasing the deficit and keeping taxes on the middle class the same as they were (Klein). Simply looking at the proposal, the mathematics behind Romney’s tax plan is not correct. According to an extensive study done on Romney’s tax plan, if he wants to implement a five trillion dollar tax cut on the rich, the spending cuts would have to be made either on programs for the poor or by raising taxes on the middle class, the latter being the more likely possibility (Klein). If Romney’s tax proposal was implemented, many middle class families would see their taxes increase and fall into even more financial difficulty than before (“Tax Cuts”). Romney either knows of the effects his tax plan will have on the middle class and is willing to implement it at the expense of the financial security of the majority of the country, or he remains oblivious of the consequences and is out of touch with the American people. Romney’s tax stance will only worsen the plight of the middle class, not relieve it. Because President Obama understands the plight of the majority of the American people and fights to relieve them of that plight, his stance on taxes is superior to Romney’s.
Works Cited
"Issues - Taxes." Barack Obama - Forward. Obama for America, n.d. Web. 14 Oct. 2012. <http://www.barackobama.com/taxes?source=primary-now>.
Klein, Ezra. "Romney Tax Plan on Table. Debt Collapses Table." Bloomberg. Bloomberg L.P., 2 Aug. 2012. Web. 14 Oct. 2012. <http://www.bloomberg.com/news/2012-08-02/romney-tax-plan-on-table-debt-collapses-table-.html>.
Obama, Barack. "Remarks by the President on the Economy in Osawatomie, Kansas." The White House. N.p., n.d. Web. 19 Oct. 2012. <http://www.whitehouse.gov/the-press-office/2011/12/06/remarks-president-economy-osawatomie-kansas>.
Paletta, Damian. "Summers Calls for Extending Payroll Tax Cut." Wall Street Journal. N.p., 11 Oct. 2012. Web. 12 Oct. 2012. <http://blogs.wsj.com/washwire/2012/10/11/summers-calls-for-extending-payroll-tax-cut/?KEYWORDS=2012+election+taxes>.
"Should the Wealthiest 1% of Americans Be Taxed More Heavily? - 2012 Presidential Election." ProCon.org. N.p., n.d. Web. 14 Oct. 2012. <http://2012election.procon.org/view.answers.election.php?questionID=1741>.
Snyder, Michael. "30 Statistics That Show The Middle Class Is Dying Right In Front Of Our Eyes." Business Insider. Business Insider, Inc., 03 Jan. 2012. Web. 18 Oct. 2012. <http://articles.businessinsider.com/2012-01-03/home/30583284_1_middle-class-jobs-americans>.
"Tax Cuts." The White House. N.p., n.d. Web. 18 Oct. 2012. <http://www.whitehouse.gov/issues/taxes/tax-cuts>.
"U.S. National Debt Clock : Real Time." U.S. National Debt Clock : Real Time. N.p., n.d. Web. 12 Oct. 2012. <http://www.usdebtclock.org/>.