http://debitversuscredit.com/miscellaneous/research/ A personal finance blog dedicated to fighting financial ignorance Fri, 20 Apr 2012 16:25:11 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://debitversuscredit.com/miscellaneous/research/comment-page-1/#comment-74 Peter Thu, 04 Sep 2008 14:07:15 +0000 http://debitversuscredit.com/?p=123#comment-74 While direct income taxes for a lot of people probably wouldn't go up under Obama (maybe?), I think part of all this that is being left out of the discussion is how tax increases on wealthier americans will affect things. Will it have a net positive effect? Or a net negative effect. I happen to think that tax increases on the wealthy - the ones who create jobs, growth and revenue - is a bad idea. They're already paying a disproportionate amount of the taxes, and this would make it even worse. With tax increases on that segment you'll probably see jobs lost, lost income for middle class folks through lower stock prices, etc. Also, a lot of the increases in spending that Obama is promising - haven't got a funding source yet - he hasn't said where the money to fund those programs will come from..? it has to come from somewhere, right? While direct income taxes for a lot of people probably wouldn’t go up under Obama (maybe?), I think part of all this that is being left out of the discussion is how tax increases on wealthier americans will affect things. Will it have a net positive effect? Or a net negative effect. I happen to think that tax increases on the wealthy – the ones who create jobs, growth and revenue – is a bad idea. They’re already paying a disproportionate amount of the taxes, and this would make it even worse. With tax increases on that segment you’ll probably see jobs lost, lost income for middle class folks through lower stock prices, etc. Also, a lot of the increases in spending that Obama is promising – haven’t got a funding source yet – he hasn’t said where the money to fund those programs will come from..? it has to come from somewhere, right?

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