Obama's Tax Fairness Speech Part 1

Senator Obama's Tax Fairness speech at the Tax Policy Center in Washington, DC. Part 1.

Sorry for the watermark. This is my first time uploading a video. I'll try to delete it if I can.

Category:

News & Politics

Tags:

• Barack
• Obama
• Tax
• Fairness

[MarkDouglasC]

I agree the "fair tax" sounds great, but its really the highest sales tax on earth. Do you want the highest sales tax on earth -- on your gasoline? Its even on rent -- yes your rent. And your utility bill. Even on your car insurance. Find out all the things Fairtax would tax with the highest sales tax on earth -- and get back to me.

[MarkDouglasC]

Dont subsidize anyone, just tax all income types the same. Right now we tax earned income - work --300% higher. Our tax code is based on HOW you make our money. If you are stupid enough to work for your money, you are screwed. If you invest in your education, your business, your own skills, you are screwed.

Tax all income types the same - quit screwing work by taxing it 300% higher.

[MarkDouglasC]

Well a flat tax is fine with me - devil is in details though. Flat tax on WHAT? On cap gains? On work?

People throw around words like flat tax -- then say, oh no dont tax stock profits, just work.

If ou want a flat tax -- have it. But have it flat on everyone.

[t0nt01982]

I can never understand liberals class envy. Explain to me the justification of taxing work and subsidizing non-work? Has welfare solved poverty? will those under 35yrs old get social security? is the Progressive Income tax really "fair"? Taking someones money by force is infringing on his/hers individual rights. Isn't that part of the Democratic Party's platform???

[blarelli]

Yeah throwing a 25-37% income tax on everybody, and a 25-39% corporate tax on companies is much better. Obama has repeatedly said he would raise both rates so look for both to go up 3-5%. A fair tax beats that any day.

A flat tax without tax breaks is what I do favor. That way when people start screaming for more social programs they will foot the bill. Then maybe people would get smart enough to vote big spenders out of the congress. Imagine a world of fiscally responsible politicians :)

[ourearthhome]

Yes Obama is not indicating he knows not to impose taxes that are destructive but you think that the Fair Tax is a good idea? The Fair Tax is a sales tax. Sales taxes have been the instrument of tyranny for centuries. The Boston Tea Party was a protest against a sales tax on tea and all the other taxes imposed by the Brits were sales taxes. Its proponents think that not taxing production is solved by taxing the products /services produced. Obama at least knows not to do the Fair Tax.

[MarkDouglasC]

we DONT tax everythign without distinction pin head. We tax the shit out of work, earned income. We hardly tax the profit on skimming -- cap gains, dividends.

I WISH we taxed all income without distinction - cause that way, work wouldnt get screwed so bad.

Personally I think earned income -- work -- should be taxed LESS than cap gains and dividends. At least quit taxing work 300% higher than unearned income, as we do now. That would be a great start.

[ourearthhome]

Thank you for sharing your anger. My previous comment is meant to raise the question: why do we tax the earned income of labor and not focus our taxation on the unearned income from ownership of land? Taxing everything without distinction as to whether it is an earned income or not misses the opportunity to create the proper "mix" that you mention without giving the opposition legitimate complaints about destructive taxation and intrusion into what should be left to the individual.

[MarkDouglasC]

Listen peckerhead - we need a mix. Pure capitalism was about slavery, no labor rights, and we had 95% of the people dirt poor then. Only when you modify pure capitalism does it work well. How you modify it matters.

If we still had pure capitalism you idiot, we would have crap/ wide spread poverty, and your ass would probably be someone's punk ass slave.

[MarkDouglasC]

Nonsense. In your piece they don't discuss FICA -- I just explained below how someone who works their ass off for 100K pays 300% higher tax rates than someone who gets 100K from cap gains.

Your "facts" don't show reality, they are misleading. Don't tax the rich more -- quit making work and earned income pay 300% higher tax rates on the same income.