With today's economic crisis, it is only natural for our present president, President Obama and running candidates like Mitt Romney, to propose their own various solutions to it. Both Obama and Romney support the proposal of lowering taxes for their citizens, but each has a different idea regarding these tax cuts. President Obama's plan is built upon a platform which is said to "help get America working again." (Obama) His platform is based upon progressive taxing, which consists of taxing citizens based on their salaries, and placing a higher tax on the wealthy and big businesses, in turn "putting more people back to work and putting more money in the pockets of working Americans." (Obama) Obama's plan also provides aid or what is referred to as Obama Care, which includes proposals that would "make investments that would prevent layoffs of as many as 280,000 teachers, provide opportunities for long-term unemployed veterans, and put Americans to work rebuilding roads, railways, bridges, and schools in need of repair." (Obama) However, Romney's platform offers a very different idea with tax cuts, for he wants to "reduce taxes, spending, regulation, and government programs" (Romney) but only plans on "reducing the corporate income tax to 25%." (Romney) Unlike Obama, Romney wants one set tax rate and reduced regulation on businesses and less government programs, rejecting the ideas of Obama care and progressive taxing. Romney's solution to today's crisis is to "rebuild the foundations of the American economy on the principles of free enterprise, hard work and innovation." (Romney)
I personally agree more with Obama's idea because it is helping the "common man" and having progressive taxing will give those average working Americans or those less fortunate a chance to live the American dream. Having tax cuts will leave more money in these people's pockets, which in turn will go to the economy because of their purchases. With progressive taxing, the rich will still be making way more money than the average person, so the idea of raising their taxes really is not putting them in a life or death situation. Also, providing more programs and jobs for those Americans that need it will only benefit the economy because once these people are financially stable, they will start to spend their money, which will go to the ecomony, and these new jobs that they now have mean more tax money.
Nia B.
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