If wealthiest 2% spend 1/3 of the money how is Obamas tax increase going to help the economy?

it helps by destroying the economy so socialism can take over.

Well, you just asked this, but the answer is still the same. Since he's only letting the tax cuts on those who earn more than $250,000 expire, most people, and those who, by your own figures contribute 2/3 of our nation's spending, will get a tax cut. Not everybody smokes and drinks, you know. So his tax cuts will help grow the economy.

It's not so much who has the money to spend. It's getting them to spend it. For the 1st time since the 30's, all three major markets, commodities, including crude, housing, stock market, are depressed, with a frozen credit market.

The real danger when the markets are all depressed, is a deflationary spiral that goes out of control. Prices drop, things become cheaper, the dollar buys more. Yet, everyone holds off buying and investing, thinking , or fearing, prices may be even lower tomorrow, next week, next year.

It won't! No matter how many times the screw around with the taxes and how much they increase it, that 2% always pays about the same, because they find ways to shelter it, i would too. Who it hurts is the middle class because they have no shelter!

His tax proposals won't go into effect until 2010.

You made a great point.Too bad that no one on here will agree with you ,because the Kool-aid is still in their system!

This economy is consumer-driven and the other 98% are the primary consumers.

The fact is Obama's plans don't even make sense. The numbers don't add up.

It won't help but it is a good way to punish people who have money. That's what it's all about anyway isn't it?

they have over 34% of the US money, that's how Republican.