I'm sorry, I don't recall Obama supporting any measure that would have significantly reduced taxes on the middle class. I remember him offering to extend the tax levels Bush created for middle class incomes, but I don't recall any piece of legislation that would have cut taxes for the middle class. Deciding not to allow raising taxes on the middle class isn't the same thing as cutting them.
So again I ask the question: how does raising taxes on the rich help me?
As for trickle down economics: no, such a theory doesn't work if the middle class is still forced to fork over 40-50% of their income to the government. At that point it makes no real difference because no matter how many jobs are created, the people with those new jobs aren't saving any more money or becoming any more financially stable. And yes keeping tax levels for people making around $100-200K roughly the same for people making $1-2 million doesn't really help anybody. That's why people like me would like to see everybody's taxes come down about 20-30 percentage points. It's not simply a matter or rich people being taxed more than the rest. If we taxed people making $1 million plus 70%, and kept the current tax levels on the middle class, that wouldn't help either. It's about giving middle class Americans the ability to maintain their own personal holdings and see them grow. And they aren't doing that until taxes are lowered. And not 2-3% points, but 15-20%.
Not to get redundant, but, how does raising taxes on the rich help me if my tax levels basically stay the same? What's the point?
So again I ask the question: how does raising taxes on the rich help me?
As for trickle down economics: no, such a theory doesn't work if the middle class is still forced to fork over 40-50% of their income to the government. At that point it makes no real difference because no matter how many jobs are created, the people with those new jobs aren't saving any more money or becoming any more financially stable. And yes keeping tax levels for people making around $100-200K roughly the same for people making $1-2 million doesn't really help anybody. That's why people like me would like to see everybody's taxes come down about 20-30 percentage points. It's not simply a matter or rich people being taxed more than the rest. If we taxed people making $1 million plus 70%, and kept the current tax levels on the middle class, that wouldn't help either. It's about giving middle class Americans the ability to maintain their own personal holdings and see them grow. And they aren't doing that until taxes are lowered. And not 2-3% points, but 15-20%.
Not to get redundant, but, how does raising taxes on the rich help me if my tax levels basically stay the same? What's the point?