Taxes (Issue 2)

President Obama is wanting lawmakers to extend the tax cuts for the middle class that are going to expire in 2012. This is so that 98 percent of Americans and 97 percent of small businesses won’t pay higher taxes then usual. Close to everyone in Washington agrees with this proposal and the extension has already been passed by the senate, but the Republicans want to extend the tax cuts only if the 2 percent richest Americans tax cuts are also extended to make it fair (Laura Meckler and Damian Paletta, 2012). Our party does not agree with the Republicans views on this. We believe that the wealthier people need to have more money taken out of there income each year. We also feel that the taxes being taken out of every Americans paycheck is not being used on the right things to help the economy. On Wednesday September 3rd there was a presidential debate and taxes was one of the issues talked about in the debate. In this debate we support Obama as throughout the whole debate Mitt Romney kept talking about what he was going to do but not is plan on how to do it. Taxes will be used to help the people and what they want. One important thing that we will be using your tax money for is to create more jobs and put it back into the small businesses. The current situation being run by President Obama has turned into a disaster. The Dino-Mights fully support progressive taxation. This is where people on higher incomes pay more of their income to tax. We need to let lower income Amercian’s pay less of there income because they are already struggling in this economy as is. We then need to tax the wealthy more. The current situation is not following through as it should. To go along with this we also need to change the Tax Credit System. The main features of this system are to give credits to people based on certain needs, start income tax out at lower rate, and if the tax is more then the credits, then the individual must pay the state. (Tax Credit System, 2012) Mandi Pyke as President will enforce and make sure that those who make more will pay more. She will also enforce the tax credit system and make it more effective to the American people. Romney wants to get rid of all tax deductions and exemptions in the tax code,  This makes no sense because many people need those for a variety of things that go on in their life from supporting children in school from a college students tuition. Romney says he wants to lower taxes for all Americans. This is one major thing the Dino-Mights disagree with when he says, “for all Americans”. The rich do not need anymore tax cuts, instead they need to be raised. Where does Romney think he is going to get all this money? During the presidential debate all he  talked about  was his plans to do stuff , but not how he is going to do it or where he is going to get the money for it. “Regardless of the twists and turns, Governor Romney has never been able to explain how he will pay for his $5 trillion tax plan without raising middle-class taxes,” (Kevin Liptak, 2012). All he is trying to do is make himself look better. He has never been a President and does not understand how to run the country. Romney wants to give tax cuts to all Americans and then make us go into debt even further then we already are. Romney believes it’s not fair that wealthy people have to get higher taxes. Is it fair that middle-class families have to struggle to keep food on the table for their families? (Associated Press, 2012). This tax cut program can pay for itself if we are smart about it. People are waiting for the money to trickle down from the rich like it has been promised, but has never happened. The Dino-Mights are going to make that happen! We are going to cut taxes for the middle class and the lost revenue is going to come from higher taxes on the rich people. The wealthy make tons of money and somehow they seem to think that they still don’t have enough. They seem to think that what they have is not enough to live off when actually what the middle class is making is not enough to live off. So for the amount of taxes that are cut from the middle class will be the amount that increase the taxes for the rich. Taxes is a very touchy subject for every American and is important to them because it involves every single American who has or has never had a paying job. We are going to make things simpler for the 98 percent of Americans that need it. The middle-class and the wealthy need to start meeting somewhere in the middle. Our economy will not work with a huge income difference and a divided social status. The 98 percent we need to start focusing on more and less of the 2 percent.