On the Economy
The economy exists to benefit us all. When the economy is struggling, the universally accepted approach to jump starting it is to put more money in the hands of the people who will spend it…the lower and middle income taxpayers. That’s because two thirds of our economy is driven by consumer spending.
The cornerstone of the Republican’s economic policy for seven years has been tax cuts for the rich, with the overwhelming benefit going to the wealthiest 1%! We see an endless line of “free trade” agreements that leave Americans without work, and entire communities devastated as their company’s operations are moved overseas.
The marginal tax rates for the richest men in our country (Bill Gates, Warren Buffett, the hedge fund managers, the private equity investors), people who make tens, even hundreds of millions of dollars each year, is lower than that of the average flight attendant at U.S. Airways, or customer service representative at Wachovia or Bank of America. On the next dollar you earn, you pay more in taxes than they do!
Our current tax system favors wealth over work. The purchase of Rolex watches and private jet sales don’t drive our economy. It’s the purchase of bread and milk, clothes and a new couch. It is past time to target tax breaks to the engine of our economy…ordinary taxpaying citizens.
I favor tax cuts that target American workers. To pay for them, I propose we let the Bush cuts for the wealthiest expire rather than blindly extend them.
I support slow track, not fast track fair trade agreements. Fair trade can benefit us all. But we’re the largest economy in the world. We need to use our leverage to ensure the security of Americans…income security.
I support closing the loopholes and incentives that drive Fortune 500 companies in America to relocate “shell” headquarters offshore to evade U.S. income taxes. Our country, its laws, values and citizens, made them what they are today. It’s the antithesis of patriotism for them to sneak headquarters offshore and stick us with the deficits.
I am 17 years old and will be 18 by the election of 2008. I have decided to vote for you after reading some information on yours and your opponents websites. I am voting through absentee ballot because I currently reside in New Zealand, but still feel like North Carolina is home. I wish that my choice on State Senator was easier. However I was wondering what your view on raising minimum wages would be. They just raise minimum wages here from $9.00 to $12.00 an hour. I enjoy my economics and understand that this can both benefit and hurt the economy. However higher wages for the low income would promote consumer spending and help some families pay for the raising cost’s of necessities.
What I am asking is would you support a raise in the minimum wage. New Zealand is a small country but $12 is a whole lot better than the $5.35 I was earning in North Carolina. (I heard that this has been increased to $7.00). I would very much appreciate a reply despite the fact you already have my vote in the primaries.
The top 1% of taxpayers pays 40% of all personal taxes. I am for a Fair Tax.
There are two justifications for tax. One is benefits received and this is used to tax gasoline to generate revenues for roads, for example. Or taxing cigarettes to pay for the health care consequences of smoking.
The other justification is abililty to pay. This reasoning suggests that people with higher income should not only pay more dollars in taxes, they should pay a larger share of their income in tax.
The wealthiest 20% earn half of all income. Only a portion of their earnings are subject to Social Security tax. They pay a much lower tax rate on capital gains which is unearned income. All my income is earned.
We need to begin paying for what we have whether we buy it personally or whether the government provides it for us. It’s a matter of personal responsibility.
Don’t ask me to feel sorry for the taxes on the top 1%.
Carol: Have you seen the roads in Ohio? It doesn’t appear to me they are being spent that way. What about every time you register / renew plates for your car? That money isn’t filling in the giant pot holes I have to go over each day. They are so bad they blew the struts out of my car. It’s a big scam.
If you were in the House at the time, would you have supported the “bail-out”?
Yes I would like to know If you were in the House would you have given away our money to the bankers and stock brokers, Like Sue did???
Carol, you state that raising taxes on cigarettes is a good idea to pay for health care consequences. Does that mean that the taxes get spent on people with other illnesses such as diabetes from eating too much and being fat? Why must I pay for something that will support those that do things I don’t agree with? Don’t burden me with everyone’s health care because I do something that offends you. Make sure you look from all angles, Carol.