Current Event 13.1: The State of the Union and the Economy

On January 24, 2012, President Barack Obama gave the annual State of the Union address. This year President Obama had to confront a mainly Republican Congress and put into consideration the ongoing Presidential Race. President Obama stated that he believes the American government should try to lessen the gap between the rich and the rest of the population by changing tax code and other policies-as long as Congress agrees. Obama believes that people earning more than one million dollars annually should pay a thirty percent tax rate and should not receive tax deductions on things like health care, retirement or child care, or housing. This stress on taxes pressured the Congressional Republicans to elongate the temporary payroll tax break for most working class Americans. President Obama says, “We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by, or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.”

Although I am glad that President Obama wants to stabilize our economy, he also seems to be giving mixed messages. President Obama claims he wants “everyone [to play] by the same set of rules” while he is increasing the taxes and decreasing the deductions for everyone making more than one million dollars per year. If everyone “played by the same rules,” then it seems like everyone should be taxed equally and fairly and no group should be singled out because of their annual income.

Cushman, John H. “Obama Speech Makes Pitch for Economic Fairness.” New York Times. New York Times, 24 Jan. 2012. Web. 24 Jan. 2012.

State of the Union Full Speech – President Obama.” Ali Darwish Tech, Medicine, Entertainment, and More, 24 Jan. 2012. Web. 24 Jan. 2012.

This entry was written by ldunnagan4ecspress and published on January 25, 2012 at 3:39 am. It’s filed under Uncategorized. Bookmark the permalink. Follow any comments here with the RSS feed for this post.

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