- Posted January 16, 2013 by
This iReport is part of an assignment:
Obama’s next four years
Obama's Term Must Fix Tax Structure To Solve Wealth & Income Inequality
- hhanks, CNN iReport producer
While many have not shown enough degrees of freedom in their thinking to see why the Affordable Care Act was a must. Just as Social Security and Medicare are revered, so will Obamacare. One can still remember the uninformed signs from the Right telling the Big Bad Government to get out of their Medicare.
President Obama should find a way to ensure that the tax system no longer have a built in bias for the wealthy. Income from investments (capital gains), of which 90% goes to 10% of the population must be taxed at the same rate as the working persons income. Secondly, before any changes to social security are made, all income should be taxed for Social Security which would bring the overall rate down. Lastly, the middle class bleeds, dies, and build for the wealthy class. As such, the wealthy owes much more to society who is in fact protecting their capital.