How can it be ethical for Obama to 'raise taxes' on 'the rich'?

As most of us know, the President's plan is to tax those who earn more than $250,000 annually. What most don't know is that the overwhelming number of these individuals are small business owners. But if you have doubts of that, see this recent interview with Timothy Geithner: http://www.youtube.com/watch?feature=player_embedded&v=H4bYNkXu5qs

Now consider that Obama has NO plans to increase the taxes on capital gains, which is where the SUPER rich make their money. How can this be ethical? In light of this, how can it possibly be argued that, when the President claims he wants to increase taxes on the 'rich,' he isn't actually going after small business owners while leaving his buddies, the fat cats in Banking and on Wall Street, rolling in their ill-begotten loot?

2011-06-29T05:14:37Z

I'm disappointed in so many of you. First, my question is clearly NOT whether it is 'okay' to raise taxes on the rich, but whether it is ethical to pursue business owners while ignoring the immensely wealthier who make their money with capital gains. Second, those who think the President doesn't raises taxes must also think the President doesn't create government Healthcare. Literally true, but we all know it only happened because of him. Third, Obama DOES plan to raise taxes on the rich. Open your eyes. Here's his quote: "I think that we've had an economy that has been out of balance for too long. So the general principle of raising taxes on higher income Americans, like myself, and providing relief to those who haven't benefitted as much from this new global economy, I think is a sound one." - Barack Obama

GOZ2FAST2011-06-28T11:36:17Z

Favorite Answer

Obama is a sock puppet for mega wealthy George Soros, who made his billions and wants to slam the door shut for everybody else by destroying our economy...he wants small businesses out of business...he wants you to turn to government for a meager pittance to survive...it is the elitists vs. the peasant idealogy...Obama doesn't want this country to succeed...hence why ALL of his policies are designed to destroy it.

OleTripod2011-06-28T18:38:40Z

Ethical isn't really the word you're looking for. You're talking in the most basic sense about right and wrong. I personally believe that if you're earning $250,000 you're doing just fine, small business owner or not. The tax bracket should go higher. I also believe that if you're making $250 million you should be taxed at a higher rate than the guy making $250,000. But if I can either have the $250,000 or nothing getting more taxes...guess which one I vote for?

Sorry, but no amount of crying on a rich person's part is going to convince me that someone who isn't filthy rich still isn't rich. My personal belief is as a society we are obligated to take care of those who can't take care of themselves. As is, we can't do that. My hometown is shutting down a home for the mentally handicapped because of budget cuts. That's wrong and if Bob the small business owner is making more than me, my girlfriend, my niece and my best friend COMBINED and somehow we all manage to survive he can find a way too. Even at a higher tax bracket. It's not like Obama is talking about taxing them into poverty. We're talking roughly 3%. That's nothing.

Anonymous2011-06-28T21:19:32Z

In order for any revenue plan to be valid it must be able to tax a viable source of revenue. The rich are the only ones with a viable source of revenue, thats why they are rich. If you tax the rich their consumption will change very little. They will still by the Rolexs, the new boats etc, but if you go after the Middle Class then it will have a very significant effect on consumption which will turn around and reduce employment which starts that downward spiral again.

Jim2011-06-28T18:51:43Z

Check what is now defined as a small Business owner. Those making over 1/4 million a year usually have no shop and no employees and invest money for a business.

Music Seawater2011-06-29T01:13:55Z

You, like so many other Americans, really don't know what you're talking about! If you changed your TV from Faux News (Fox) to a channel with a more middle of the road perspective, you wouldn't be as ignorant as you seem to be about what's REALLY going on in this county!

he's not raising taxes, lady, he's allowing the Bush tax cuts to expire. Something the idiots on the right are selling as a "raise in taxes" to all of it's gullible (and ignorant) FOLLOWERS!

Just like some people on Answers vote for themselves 4 times a question (when necessary) the GOP is full of liars, cheaters, racist scumbags, closet homosexuals and hate-filled White folks who see the world as something to profit from, period!

Your question shows a strong bias as well as an ignorance to the real world and you might want to wake up and smell the coffee before it's too late!!!!!!!!

"Raise taxes", what a joke!!!!!!!!

Show more answers (8)