Obama raising taxes on the rich

The Wall Street Journal on-line reports that President Obama intends to raise taxes on families earning over $250,000 a year, promising that those making under that will not see their taxes increased. This is to cover the rising costs of health care and education. Donald Parnell Jr. and his family seem well off but claim that he must work seven days a week to keep up with rising costs and cannot afford a larger home. Their home right now is 2,500 square feet and they can’t afford to renovate. They claim that the value of their house is down 60,000. The Federal Reserve reports that there has been a drop in U.S. households’ net worth by $11 trillion. Others have claimed that they are having difficulty paying student loans after going to school to be doctors. The Parnell’s say that they are barely getting by with only $1,200 a month to spare. I say that I wish I had $1,200 a month to spare. I know that they call these people the upper working class but they do not have it as hard as the poor working class. I can’t even afford to take a vacation, which the Parnell’s claim that it is difficult to do now. I can’t remember my last one. I don’t drive a nice car or live in a $250,000 house. I work six days a week and cannot afford to get sick because I am supporting myself and my kids and I don’t have health insurance. I know it is hard for everyone right now but I think it is time for the rich to scale down like the rest of us.


http://finance.yahoo.com/retirement/article/106934/Wealth-Less-Effect-Earning-Well-Feeling-Otherwise

I agree with you completely. Who needs that much money when there are people out there that do not have any money or a means of survival! I know in America we seem to have this mindset that if your poor, it’s your own fault and you must be lazy. This may sometimes be the case but it is not right and unfair to say this about everyone that isn’t succeeding to their wildest dreams! My uncle always says that he doesn’t more tax for people that make more for their money because it would be like free hand-outs for poor people when that would not be the case at all! Good for Obama for doing something that no one else has actually don’t before.