Obama and Clinton – All For Raising Taxes

From an excellent Wall Street Journal article: “But Mr. Obama has also said he’s open to raising – indeed, nearly doubling to 28% – the current top capital gains tax rate of 15%, which would in fact be a tax hike on some 100 million Americans who own stock, including millions of people who fit Mr. Obama’s definition of middle class.” Both Clinton and Obama are in favor of raising taxes on capital gains, which affects, as the article said, the millions of people who own stock. I own stock and I’m a grad student on a grad student income. Capital gains taxes have rightfully been decreasing over the years. Many want them to be eliminated. I’m not qualified to provide commentary on that but don’t let Obama or Clinton fool you with pledges of not raising taxes. Our government and governmental spending may be breaking down but you can’t fix the deficit or the national debt by throwing more money at the government, you have to reign in spending and reduce waste; and there is a lot of waste. Why would anyone want to give the government more money when the government can’t even work well with what it has. It’s time for a paradigm shift in our country; we need to change our philosophy about governmental spending. Both Democrats and Republicans are at fault. I’m not necessarily arguing against big government; it might be unavoidable in our world but a large government does not have to be inefficient. Inefficiency is more likely in larger governments but it is not inevitable. There is no need to raise taxes, we just need to fix what we have and go from there.

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