Vice President Joe Biden speaks in Council Bluffs, Iowa on Thursday.
Vice President Joe Biden acknowledged Thursday that he and President Obama desire to raise $1 trillion in taxes on the wealthy as part of a plan to allow some Bush-era tax cuts to expire. Biden said that in top of the trillions that they've already cut, they're going to ask the wealthy to pay more. Mr. Vice President, since you and President Obama are so adamant that the wealthy pay more in taxes, why don't you, the president, and all your Democratic colleagues in Congress that call for tax hikes on the wealthy, why don't you contribute 40% above and beyond what you already pay in taxes yourself. If you are all so concerned about the deficit and if you're soooooooo concerned the wealthy aren't paying their fair share, then yooooouuuuu, Mr. Vice President need to lead the way. I'm certain many of your Democratic colleagues have discretionary money they can donate to help pay down the deficit. Why don't you donate a sizable portion of your income toward alleviating the deficit? I believe that sounds fair.
Mitt Romney made a good point about taxes during Wednesday's debate with Barack Obama. He was making a point about taxing small businesses. He said if you raise taxes on small businesses, then what could transpire is fewer new jobs being created. The more restrictions and costs that a small business has to incur, the less money it has to create new jobs. Romney rightly pointed out the issue is jobs. He's exactly right. In the private sector, in order for a business to thrive in the marketplace, it needs to keep costs to a minimum as much as possible. It's true that there are needed costs to operate a business. But unnecesary costs such as tax increases or regulations that force businesses to spend more money means less money into their account to grow their businesses. Romney rightly pointed out that taxing the wealthy isn't going to reduce the national debt or grow our way out of the recession. What's needed is new wealth creation--not redistributing wealth. That's Obama's plan because Obama is a pure socialist. That's the truth.
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