The Associated Press recently released the results to their GfK poll. What they found out is that the majority of Americans support President Barack Obama’s proposal to raise investment taxes on high-income families. The results showed that 68 percent believes that wealthy households pay less federal taxes. Eleven percent said the wealthy are paying too much in taxes. Of the middle-class, 60 percent agreed that they pay too much in federal taxes. The tax proposals presented in Obama’s 2016 budget plan may have a tough time in Congress. However, a proposal to increase capital gains taxes on households making more than $500,000, has the potential to be highly favored by Democrats and close to 50 percent on the Republican and independent side. The reason why the wealthy pay lower taxes on capital gains is to persuade them to create more companies, create jobs, and create more opportunities for investments. Yes, it does keep the rich, rich. But, the middle-class’s suffering from high taxation is causing a steady decline in their livelihood. Senator Bernie Sanders, of Vermont, summed up the feelings of a large portion of U.S. population. “Most people understand that at a time when the rich are becoming much richer, the middle class is continuing to disappear,” Sanders said. “And people also understand that the very wealthy and large corporations are able to take advantage of huge loopholes, which enable them not to pay their fair share of taxes.” Read more... DO YOU AGREE OR DISAGREE WITH OBAMA’S PROPOSAL TO RAISE TAXES OF THE WEALTHY? One Response
