Thread: Barak Obama - The Prime Minister we need.

His speech to Congress renewed a call for higher taxes on the wealthy, something Republicans strongly oppose.

..................Forced by political pressure, Mr Romney released his tax returns on Tuesday, the same day in which Mr Obama called for higher taxes on the wealthy.
The forms revealed the former private equity tycoon earned nearly $22m in 2010 and paid an effective tax rate of about 14%, a lower rate than most other Americans pay.
As part of Mr Obama's larger theme of economic inequality, he made a renewed call for his Buffett Rule - a principle that millionaires should not pay a lower tax rate than typical workers.
The idea is named after billionaire investor Warren Buffett, who famously complained that his secretary pays a higher rate of tax than he does.

...........Pledging no tax increases for those earning under $250,000 (£160,000), Mr Obama said: "If you make more than $1 million a year, you should not pay less than 30% in taxes."

"Now, you can call this class warfare all you want," he added. "But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense."

BBC News - State of the Union: Obama takes message to key states

And so would most Britons. The one section of society Cameron and Osborne have not yet demanded repay a fair portion of the debt or suffer from the cuts is those who gained the most from it, their billionaire and fellow millionaire chums.

If Obama is the answer could someone tell me what the question is.

Originally Posted by rjt

If Obama is the answer could someone tell me what the question is.

The question is,should the lower paid and the middle classes bear the whole burden of the recession while those that have already have the most suffer the least?

Originally Posted by Francis Overdere

The question is,should the lower paid and the middle classes bear the whole burden of the recession while those that have already have the most suffer the least?

No all should pay a contribution, but it is always unwise to concentrate on the gap between rich and poor, as margaret Thatcher pointed out in her last speech as Prime Minister, the logic of saying that you want the gap smaller is that providing the rick are less rich you wouldrather have the poor poorer, you dont create wealth that way, you dont create a property owning democracy that way and if you create that then all lvels of income rise.

So you have told me the question, i tell you Obama though I am sure he will be re-elected given the appaling opposition has done very little in many commentators eyes.

As for taxing the rich more, yes all should pay a contribution to alievating our economic problems but crippling taxes on the wealthy stiffle investment.