President Barack Obama’s words at the National Prayer Breakfast Feb. 2, “for unto whom much is given, much shall be required,” were not just a strategic move to disprove recent allegations that he is destroying religion in the United States.
These words were a persuasive tactic for his argument to tax the richest citizens of America.
Last year, the Obama administration relentlessly tried to convince Republicans in Congress to pass legislation to create jobs while raising taxes on the rich and closing loopholes.
Republicans repeatedly refused to even vote on his measures, sending them down to committee to die. Obama’s plans were labeled “class warfare” but it’s just simple math.
With our current economic woes and constant cuts to education, financial aid and other social programs, raising taxes on the rich is not only a good idea, it is absolutely vital to ensure future prosperity.
The idea of cutting taxes on the rich became popular under President Ronald Reagan. During his administration, the top tax rate for the richest Americans fell from 70 percent to a minuscule 28 percent. The argument was: If you gave more money to the richest people in this country, or ‘job creators’, they would have more money to invest in industries across the nation, leading to the creation of more jobs.
The current tax rate for the richest Americans is now 39 percent, and while they have gotten richer, the poor have gotten poorer. All these tax breaks we give to the rich to create jobs just go to overseas factories where labor is cheap, leaving the American economy hanging and citizens unemployed.
It is not the federal government’s responsibility to create jobs.
That is the role of the private sector, which has only pocketed the golden parachutes they have sown for themselves.
Either they believe in socioeconomic Darwinism or they simply have no regard for the economic state of our nation.
Reversing ‘Reaganomics’ is more useful in our world today: tax breaks to the middle and lower classes would put more money in their pockets. It’s called trickle-up economics.
Think of it this way —rich people receive more money and what do they do? They save it. Poor people receive more money, and what do they do? They spend it.
While the rich save millions, the poor spend nearly every dime they have buying bare necessities. A plan to kick start spending from the bottom up is a better way to ensure American job growth.
It is up to the voters to decide in what direction they want to take this country. The 2012 election will be a referendum on where the people stand on this issue, among many others.
We must ask ourselves: Do you stand with a party who’s general objective lies with the good of all American people, despite race, religion or socioeconomic status, or do you stand with a party that protects the rich at the expense of the rest?
It’s not hard to figure out who is who in this game of thrones.