Friday, October 14, 2011

American public wants President Obama’s tax on wealthy

It was the expected outcome and the Senate blocked Obama’s jobs bill with all Republicans voting against it primarily due to the 5 percent tax on the rich that was included.  But just a day after the vote, an NBC/Wall Street Journal poll says Americans want our government to tax millionaires to get the job market moving.  What makes this so appalling is the fact that the GOP has put their stupid ideology of no taxes over the wishes of their constituents. 

When asked the simple question should Congress pass the legislation, 30 percent said yes, 22 percent no.  But when given the details of how the bill would help the jobless by cutting payroll taxes, funding new road construction, and extending unemployment benefits, 63 percent favor the bill, only 32 percent oppose it.  At the same time they were told it would financed by a tax on the wealthy.
Additionally, 64 percent think the rich cats and corporation should definitely pay their fair share.  On the other side of the issue, 31 percent think taxing the rich and corporations is bad, saying it will take away money that would be invested to grow the economy.  It is interesting that 20 percent of those polled were by cell phone, thus, probably a younger group.  Regardless of the mix, the public has made its statement, and many will remember come 2012.

The numbers these political hacks—including 2 Democrats that did not support the President’s Jobs Bill—will have to face are 6 million Americans whose unemployment benefits will run out in 2012, some as early as January.  Although the Millionaire Tax may be another step toward Social Democracy (like Social Security and Medicare), drastic measures are needed in the current economy, and it is time that the U.S. begin the level the playing field between the wealthy and the working class.

The unemployed have been out of work now an average of 40.5 weeks, a record as of this past September.  And there are economists that claim extending the jobless benefits would stimulate the economy since the money is usually spent right away.  In the first instance, those with benefits ending in January 2012 will be out of luck if the deadline to file isn’t extended.  This also applies to those currently receiving federal benefits.

Republicans say they will pick and choose parts of the bill to pass on their terms, but it is time for President Obama to stand firm and demand the 5 percent tax on the rich with the assurance the American people are behind him.  In my opinion, his rapid drop in some polls is due to the fact that he hasn’t dealt with the GOP in a forceful way, and it could have a major effect on his reelection in 2012.  Right now it isn’t about politics, it’s about putting people back to work.

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