Obama defends push to raise taxes on rich
September 26, 2011 3:03 PM ET
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By ERICA WERNER
MOUNTAIN VIEW, Calif. (AP) - President Barack Obama on Monday defended his push to tax the rich more to help jolt the economy and rebuild it for the long term, saying the income of well-to-do people has soared while the middle has struggled with no room to spare.
At a town hall, one man set up the president to make his point, saying: "Would you please raise my taxes?" The questioner said he was unemployed by his own choice, having done well at a nearby start-up search-engine company in Silicon Valley, and was willing to pay more.
Obama said he did not want to punish the rich, but rather to return income tax rates to the level of the 1990s.
"During that period, the rich got richer," the president said. "The middle class expanded. People rose out of poverty."
Obama is in a deadlock with Republicans in Congress, including leaders of the House, over raising taxes as part of a formula for helping a staggering economy. He has put forward a debt-reduction plan that would raise $1.5 trillion in new revenue, including about $800 billion over 10 years from repealing the Bush-era tax cuts for couples making more than $250,000.
Obama spoke during an event hosted by LinkedIn, the career-focused social networking site, midway through a three-state Western swing. The event was at the Computer History Museum, near LinkedIn's Silicon Valley headquarters.
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I'll believe corporations are persons when Texas executes one.: LBJ's Ghost
Blucher. How much extra do you voluntary pay on your tax return if I may ask. Since you are all in favor of raising the taxes on the rich, surely you will lead by example and be the first to write a check to fund all these new entitlement programs...cause guess what, you will now be in the new rich category. Congratulations!
Oh, and I do like your sig line, I love that show. My favorite line was when Sheldon said "If there ever was going to be a Church Of Sheldon, this is when it began"
Blucher. How much extra do you voluntary pay on your tax return if I may ask. Since you are all in favor of raising the taxes on the rich, surely you will lead by example and be the first to write a check to fund all these new entitlement programs...cause guess what, you will now be in the new rich category. Congratulations!
Not much to spare these days but I squeeze out a few pennies to support sane politicians. Living on less than 13K/year gets a mite creative at times.
I never begrudged a dime I've paid over 50 years of paying in.
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Oh, and I do like your sig line, I love that show. My favorite line was when Sheldon said "If there ever was going to be a Church Of Sheldon, this is when it began"
The Rosary Channel should be taking notes, that was Sheldon at his best being Sheldon.
I've never cared much for TV so I really don't have a method for recalling early Thursday evening programming. I caught most of last week show but I don't know what time it came on nor if that's the slot for the season? 7PM?
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I'll believe corporations are persons when Texas executes one.: LBJ's Ghost
Was that their reasoning behind the solar company loans?
Given the timing any boost to that industry should have been money in the bank. Someone will buy up the manufacturing equipment and probably ship it to a cheap labor market and prosper. Chevron just opened a green gas station that makes a profit off the extra energy produced.
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I'll believe corporations are persons when Texas executes one.: LBJ's Ghost
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