Obama raising taxes why?

Mostly its arrogance, many of them think its not your money but theirs and they know how to handle it better than you do.

In the forty years that the Democrats continuously had control in congress they spent $1.82 for every $1 they got in taxes.

At this point the House is resisting tax hikes but the President embraces the idea of the redistribution of wealth, taking it away from those who earned it and passing it out to those who don't. He also seems to think that the government can spend its way to prosperity while to all appearances his out of control spending is not helping and his administration's interference and additional taxes are a deterrent to putting people back to work.

Under the laws of unintended consequences, Obama's overall tax plan should finish off the remaining U.S. general aviation and luxury boatbuilding companies and their highly-paid employees, raise borrowing costs to state and local governments (zeroing out his one-time spending bonus to retain teacher positions), and result in reduced employment in sectors exposed to increased corporate and income taxation, which comes with the additional penalty of lost wages and tax revenues from the laid-off workers. Increased taxes on the rich invariably hurt the poor and the middle-class more than they hurt the rich. The rich do not passively accept large increases in taxation, but change their behavior instead - taking reduced salaries, abandoning formerly tax-advantaged capital gains assets (thus depressing the markets), reclassifying assets as corporate assets, and/or placing their assets in tax-free or tax-deferred instruments such as trusts or partnerships. Those that cannot totally avoid the increase in taxes respond by cutting down on spending and purchasing fewer luxury goods and services, severely affecting that sector of the market. It is the middle class and the poor who bear the brunt, as businesses retrench or go out of business entirely, and the workers are laid off. It should be noted that Obama's millionaire's tax isn't indexed for inflation, and like the AMT which was originally intended to affect only high-income earners, will eventually affect taxpayers who aren't wealthy, becoming a tax on the middle class (a process hastened by the continual printing of money by the Fed).

OBAMA IS NOT RAISING TAXES

Obama doesn’t really want to raise taxes.

That is just how the republicans are phrasing it.

GW Bush lowered taxes for the rich during his term as President.

Obama wishes to restore the tax-rate for the rich to where it was

before Bush gave the rich this nice discount.

WHY

This is an abbreviated version of a very long answer.

Thanks to Bush the rich pay a real lower tax rate then the middle class.

A person making $50K/year pays around 25% of that in all income taxes.

A person making $5M/year pays around 16% of that in all income taxes.

Obama wants to make the rich pay almost their fair share again.

This won’t hurt employment. That’s because the rich already have

as less employees as they can possibly have to get the job done.

Taking away more money from them shall not lower their employee

base because they have already trimmed it down as low as it can go.

The sad reality is that most employers are blood-suckers and taking

away some of their revenue want make a difference in what they do

for their employees.

Obama is President.....that's the EXECUTIVE Branch, and has nothing to do with legislation (other than being able to sign it or not sign it)....

I think what you are REALLY telling us all is that taxes should probably be raised to better fund education for individuals like yourself who have NO IDEA how government works in these United States!

You only think that because someone else is telling you so. We actually get very good value for the taxes we pay in this country. You might not realize all the ways in which you personally benefit.

For instance, the federal Food & Drug Administration is currently sending a team to investigate the causes of the recent outbreak of Listeria poisoning which was traced to Colorado-grown cantaloupes. If you have ever eaten a cantaloupe which you purchased at a store or farm stand, you might be grateful that this is not a common risk. All of the food poisoning outbreaks are news simply because they do not happen that often. We have our state and federal government regulators to thank for this, in part.

They're raising taxes because the country is very quickly going bankrupt. Taxation is not the cause. It's petty squabbling between the two parties. Besides, the only people whose taxes are going up are the extremely wealthy who pay less taxes, as a percentage rate, than everyone else. They make BILLIONS at the expense of the poor so they should have to pay more. Overall, people in the US pay significantly less taxes than other nations in the world so quit your whining.

I think they need to make some cuts AND raise taxes on the "rich" because the government needs more revenue.

Illegal aliens need free healthcare and college tuition. Blacks need more welfare, foodstamps, and subsidized housing. Where else do you expect them to get the money for that? money doesnt grow on trees you know