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Obama destroyed the middle class?
He only supports the poor black people who hate working and love taking other peoples money.
"Not true, everyones wages went down..." haha so destroyed the lower class and the middle class. hahaha
9 Answers
- Anonymous9 years agoFavorite Answer
Yes he did,
- ?Lv 79 years ago
CODY: A PURE EXAMPLE OF REPUBLICAN IGNORANCE
You, Cody, are a prime example of the typical ignorant individual whom’s
vote Romney is banking on. I’ll bet you voted for GW Bush as well.
Remember this thing called the Great Recession that started during GW Bush?
You do remember don’t you?
Now read this excerpt and feel schooled:
----
In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. Thus, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%.
The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%, further widening the gap between the 1% and the 99%.
Source: http://en.wikipedia.org/wiki/Distribution_of_wealt...
- DocarLv 69 years ago
We now have more people living in poverty than at any time in history. Those "new" people came from the middle class!
A $4000 drop in median income didn't really hurt the rich (most of them ended up with an increase in income) and it didn't hurt the poor (government benefits and their wages were not enough to allow that much of a decrease) so guess who go hit? The middle class!
- Anonymous9 years ago
Yes, he is working on finishing them off.
Obamacare was the largest tax increase on the middle class in US history. 80% of the new taxes will fall on families making less than $125,000 per year.
Here is a listing of only 20 of the tax increases.
1. Excise Tax on Charitable Hospitals (Min$/immediate)
2. Codification of the “economic substance doctrine” (Tax hike of $4.5 billion)
3. “Black liquor” tax hike (Tax hike of $23.6 billion)
4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010)
5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010)
6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010)
7. Medicine Cabinet Tax ($5 bil/Jan 2011)
8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011)
9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012)
10. Surtax on Investment Income ($123 billion/Jan. 2013)
11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013)
12. Tax on Medical Device Manufacturers ($20 bil/Jan 2013)
13. High Medical Bills Tax ($15.2 bil/Jan 2013)
14. Flexible Spending Account Cap – aka “Special Needs Kids Tax” ($13 bil/Jan 2013)
15. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D ($4.5 bil/Jan 2013)
16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 bil/Jan 2013)
17. Individual Mandate Excise Tax (Jan 2014)
18. Employer Mandate Tax (Jan 2014) Combined score of individual and employer mandate tax penalty: $65 billion/10 years
19. Tax on Health Insurers ($60.1 bil/Jan 2014)
20. Excise Tax on Comprehensive Health Insurance Plans
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- LibertyLover101Lv 59 years ago
What facts do you base this on?......without facts it is just made up nonsense. Are you just repeating what you've heard, or do you have a clue and can State this based on evidence?
I am not an Obama supporter, or Romney either. But so many people make statements and have no intellect to back it up.
- Anonymous9 years ago
There is no proof of that.