Obama has good plans for the economy the problem ahead for him is dealing with the Republican lead congress.
The President has a mandate and a track record of success as he's lead us back from the brink of economic ruin, the Republicans need to get on board with him and stop being the party of no and offer up some good ideas of their own to work out a tax plan that helps this country forward.
Under Obama's plan, middle-class families would see their income taxes cut, with no family making less than $250,000 seeing an increase.Obama’s plan is to cut income taxes overall, which he states would reduce revenues to below the levels that prevailed under Ronald Reagan (less than 18.2 percent of GDP). Obama argues that his plan is a net tax cut, and that his tax relief for middle-class families is larger than the revenue raised by his tax changes for families over $250,000. Obama plans to pay for the tax changes while bringing down the budget deficit by cutting unnecessary spending.It is also questionable whether all of the tax refunds can properly be called "tax cuts." The credit is refundable and, therefore, is going to many who earn so little that they pay no federal income taxes in the first place.
The recession happened when Republican policies, combined with greedy home mortgage lenders, led to massive unemployment not seen since the Great Depression. Those same wealthy people, who caused ordinary citizens on Main Street to lose their jobs, shouldn't sit in the lap of luxury with lower taxes anymore. The rich helped create the mess, now they can help fix it. The wealthy Wall Street investors were part of the problem, now they can be part of the solution. The middle class shouldn't suffer at the hands of the wealthy anymore.
I believe that Obama's tax plan will work because we live in a society that is enabled by having a government provide essential services that our taxes pay for. We would not have roads, police services, emergency services and the rich would especially NOT have certain protections and abilities if it were not for the government collecting taxes and spending those taxes on those services. I believe that the super rich use more of these resources than even the poor, and the idea that tax money just goes to feeding welfare cases is a fallacy and redirect from the more important issue of everyone paying whats fair and due.