Tuesday, July 5, 2011

Finanial woes of the US poor vs wealthy

Today in the Austin American Statesmen an article titled "Obama summons GOP, say no to short term debt deal."  In this article that mention how Obama is calling members of congress to the white house to discuss a bill he wants passed by Aug 2. Republicans are totally upset and wanting to vote against what Obama is asking for and the Democrats are willing to vote for it but of course with some type of stipulation. What stood out to me the most was the fact that the bill Obama is wanting to pass would increase the taxes for the wealty.  In our textbook we read that there is still a big gap between the wealthy and the poor. Even though we all dress the same ( partial thanks to ebay) financially we are no where near being equal at all. Sometimes I feel as though the republicans are in fact the wealthy people so of course they don't want to pay more taxes, why on earth would they be up for that. The fact of the matter is budget cuts may in fact mean that alot of our congressional representatives would also have to cut down on personal spending. And why shouldn't they, from what I can tell they have taxed me as much as they can at this point. If I had to put me and my husband in a tax bracket i would say we are definately middle class. Even so I feel as though some of the taxes they applied to business where just passed down to me as a consumer so how exactly does it affect buisnesses. Groceries are a good example of business taxes being passed down. Being a mother and wife I have noticed the increase in prices at the grocery store and sometimes have to go for the stuff i wouldn't have bought  4 years ago. I think this meeting may not be as affective as Pres Obama wants it to be. In my opinion Pres Obama asking them to look at long term debt relief would be better than a quick fix because it only puts a band aid on the problem without actually fixing the problem. As a millenial Im not really sure quick fixes solve the problem, a lot of  americas quick fixes have done nothing to boost our economy or get our country out of debt. I think taxing the wealthy is a goood idea allow them to help us low and middle class boost the economy for a change.
I would love to hear how other feel about this. Once again I found this post in Austin American Statesman. http://www.statesman.com/news/nation/obama-summons-gop-says-no-to-short-term-1582539.html

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