- Posted August 16, 2011 by
This iReport is part of an assignment:
Ask President Obama a question
Questions for the President
You had proposed a tax hike for those earning above 200,000$ per year. However, this tax hike would impact just 3% of taxpayers and would boost revenue only by $750 billion over a decade. On the other hand, everyone was paying more taxes before the Bush taxcuts in 2001 and 2003. Why can’t the tax be increased to everyone irrespective of their earning powers? Similarly, Is it not true that the government do not have enough funds for the promised entitlement benefits after a period of time?
Is the economy sustainable with all the tax breaks and entitlement benefits? If not, when will the government inform the public about the true fiscal condition of the government?