Obama Wallops Republicans With The Facts About Their Plan To Cut Taxes For The Rich

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President Obama used facts and math to reveal the true agenda behind the Republican plan to cut taxes for the wealthy during an event in Charlotte, NC.

Video:

The President said:

Now, it is significant that today is Tax Day. If you haven’t filed, you — But the reason I mentioned all the policies that I just talked about is that overall when you put my policies together in the budget, I want to cut taxes for more than 5 million middle-class families who need help paying for child care. I want to cut taxes for more than 8 million families of students who need help paying for college. I want to cut taxes to help 30 million workers save for retirement. I want to cut taxes for 13 million low-wage workers the same way that I fought to expand tax cuts like the child tax credit and the earned income tax credit — and we’ve been able to implement those.

So all told, my plan would cut taxes for 44 million working and middle-class families. That’s who our tax code should benefit — working Americans who are out there struggling every day, doing the right thing, supporting their families and trying to get a leg up in this new economy.

Now, it is a good thing that Republicans in Washington have started to talk about wages and incomes and the middle class. It’s better late than never, and so I’m encouraged. Unfortunately, the policies they’re putting forward don’t answer the mail — they don’t speak to the issues that ordinary families are facing.

I’ll just give you a couple examples. Their tax plan would give the average millionaire and billionaire a $50,000 tax cut. That’s about what the average middle-class worker makes in an entire year. They’re also pushing a new $270 billion tax cut for the very wealthiest of the wealthiest. It would affect about 5,000 families all across America; it would cost $270 billion. Here in North Carolina, it would benefit precisely 120 households.

For $270 billion, which is the cost approximately of the tax breaks I’m giving to 44 million people, it would benefit a little over 5,000 people.

So their plan would cut taxes for the top one-tenth of 1 percent and let taxes go up on 25 million working families and students. And my view is we don’t need tax cuts for millionaires and billionaires.

Republicans are doing their best to hide the facts behind their tax plan. They keep discussing tax fairness, which in GOPspeak means rich people should pay less while everyone else pays more. All of the Republican tax plans are the same. Taxes get cut for the wealthy and raised for everyone else. The plan is nothing new. The American people have caught on to it, but every year it comes back again.

Republicans try to dress it up as helping “job creators” or some vague definition of fairness, but at its core, it is the same plan that they have been trotting out for the last thirty years, and it everytime that the trickle down tax plan was tried, it failed.

Democrats will be running on economic fairness and middle-class tax cuts in 2016. Tax plans like the one that Republicans are proposing make it almost too easy. Republicans have put it in writing. It’s clear whose interest they are looking out for, and it’s not the 99% who work the hardest but have the least.

14 Replies to “Obama Wallops Republicans With The Facts About Their Plan To Cut Taxes For The Rich”

  1. The chances of a Republican being concerned with the tax rates of those who actually have to work for a living?

    Zip.

  2. First, the T-publicans do not care about facts. They just make up stuff when they do not like the truth…knowing their sheep will follow without question. Keeping them stupid is the game plan! Evil, Evil people doing this all for power and GREED.

  3. Saw a TV program the other day showing how the super wealthy are buying luxury planes, boats etc at a fast pace. In fact Trump has gold fitting in his jet plane bathroom because he said he wanted the best!
    So we should work to keep these creeps’
    ability to buy more and more luxury homes and jet planes!
    I don’t think so.

  4. Lottery winners don’t do that kind of garbage! But then again, they remember where they come from! Tax the billionaires like lottery winners! That would stop the gold lined toilets!

  5. Republicans keep doing the shell game on taxes: confusing personal and corporate taxes. The personal tax cuts for the wealthy don’t create any jobs. Billionaires don’t hire people: corporations and businesses hire people.

  6. Ok the top one percent pay forty percent of the taxes. What percent of a rich persons income should be taxed. When you tax the rich they just pass it down to the rest of us in higher prices for goods and services. Wages will be lower. Just who do you think gives most of the jobs in this country. rich people. It all sounds good to soak the rich but it will just be the poor and middle class who will be hurt.

  7. Sorry Yoleberry, but you are wrong. If people don’t have money – due to low wages, higher taxes, they do not spend. Spending is what drives the economy. NOT RICH PEOPLE trickling down money. You are who the republicans count on b/c you’re not too bright when it comes to understanding how the world works. Certain RICH people are greedy and stingy- the majority of them. they also have gotten their wealth by cheating. Of course you don’t know that b/c you are distracted by your little trinkets. Don’t be a rube. It means you have given up your power. How sad for you…. You are probably also lower middle class to poor as a smart middle class person knows better that rich people don’t create jobs… Learn something, will ya?!!

  8. You know doggone well that the first to raise their prices will be undercut! The first to lower wages will scramble for employees! givernment is still the best employer! They will un offshore a job and bring it home in a heartbeat! Rich folks send jobs overseas and they stay overseas! Have you not learned a lesson from Dominoes and Poppa Johns! Poppa John’s cut its workers and raised the price of their pizzas! Dominoes CEO hired more workers! Guess what? The US made lots of money from Dominoes because they had( and are still having) a banner year! Poppa John is having another gimmick!
    Then there is the real small businessman who confronted Joe The Plumber! That is where the jobs come from!

  9. It’s very frustrating to vote against repugs in a red-as-a
    mandrill’s ass state like mine, NC. We wind up with jerks
    like Burr & Tillis representing us in the senate by sign-
    ing the Cotton letter to Iran. These fugitives from the
    cast of Deliverance flock to the polls in droves to vote
    for stuffed suits who wouldn’t whiz on them if they were
    ablaze. When will they ever learn?

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