President Obama: Taxing Wealthy
on Thursday, November 29, 2012President Barack Obama Money Quotation saying Politicians debate whether to raise taxes on the top 2 percent of earners – while a disaster looms as they avoid his simple proposed solution. President Obama said:
“Right now, as we speak, Congress can pass a law that would prevent a tax hike on the first $250,000 of everybody’s income. Everybody’s” — Barack Obama
In this quote, Barack Obama is advocating for Congress to pass legislation preventing a tax increase on the first $250,000 of all Americans’ income. By saying “everybody’s”, Obama is emphasizing that this tax cut would benefit all individuals and families, not just the wealthy.
His point is that Congress has the power to enact a tax policy protecting all taxpayers from owing more on their first $250,000 in earnings. The quote conveys Obama’s view that Congress should take action to spare middle-class and lower-income citizens from a looming tax hike by extending tax cuts on a certain threshold of income that would impact “everybody”.
Overall, Obama appears to be pushing for across-the-board tax relief on a set level of earnings through congressional legislation.