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If Obama was elected and was able to pass his tax proposal would you trust him and congress to use the funds?
WISELY? Is our government capable of using extra funds in a responsibly manor? How many of you have the kind of faith that you would accept further taxation without question? The taxes will affect all of us if not directly, then indirectly by increased cost of goods and services to cover the tax burden of those who are affected. Also those who have investment accounts will be hit by increased capital gaines taxes.
Phil M, do you understand investment account?
12 Answers
- Candy SLv 51 decade agoFavorite Answer
You left out the massive job cuts that always come with tax increases.
The so-called little guy with continue to get screwed because they always think they can get something by taxing the "rich" and elect candidates that promise to redistribute wealth. What they forget is that those few Americans that are paying lions share will stop investing and creating jobs in this country. More jobs will go over seas.
The benefits paid by the government to the "poor" will decrease because they will kill the goose that laid the golden egg.
I don't trust Congress with $1.00, they have already proven that they have never read the Constitution.
- ?Lv 71 decade ago
Congress will only get worse with more Dimocrats being elected, and with a radical lefty like Comrade Obamba as president, the country will be going to hell in a handbasket at warp speed! I predict that the next Congress will be even a bigger disaster than this one.
- ?Lv 71 decade ago
Obama and THIS Congress? I will be trying to sell everything and maybe move to an Amish community.
Capital gains taxes, estate taxes, the whole nine yards. There will be no reason to make money and no reason to put it away for your kids.
- 1 decade ago
Even though I don't agree with everything Obama wants to do, in my gut I feel he is a person who speaks honestly and truly wants to help America. I also feel he is a person who could admit when something is not working and grow from that. So beyond his policy, I trust him as a leader. He strikes me as a thinker, someone who won't follow convention. I think American needs to be shaken up, because obviously we are in for a rough few years ahead of us.
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- Chupate esa!Lv 51 decade ago
We've trust the government with our taxes for a while now and the rich seems to be the only ones benefiting from it and the proof is in their pockets.
- Phil MLv 71 decade ago
I don't think you understand what you're talking about and the CGT would only affect short-term (less than 18 months) investments...
So no, your 401(k) would not be affected.
- Anonymous1 decade ago
What funds? His proposal would not affect overall government revenues, so there would be no extra money to use.
- DerekLv 71 decade ago
The prices of goods are already up.
Commodities? Goods? Gasoline?
And all of this with a GOP president.