Thursday, October 23, 2008

Obama and Our Money



“What I've said is that I would look at raising the capital gains tax for purposes of fairness.”
Obama, Source: 2008 Philadelphia primary debate, on eve of PA primary Apr 16, 2008

“I suspect a lot of this crowd--it looks like a pretty well-dressed crowd--potentially will pay a little bit more. I will pay a little bit more. But that investment will pay huge dividends over the long term, and the place where it will pay the biggest dividends is in Medicare and Medicaid. Because if we can get a healthier population, that is the only way over the long term that we can actually control that spending that is going to break the federal budget.”
Obama, Source: 2008 Democratic debate in Los Angeles before Super Tuesday Jan 30, 2008

"There has to be a restoration of balance in our tax code. We are going to offset some of the payroll taxes that families who are making less than $50,000 a year get a larger break. I want to make sure that seniors making less than $50,000, that they get some relief in terms of the taxes on their Social Security. Those kinds of progressive tax steps, while closing loopholes and rolling back the Bush tax cuts to the top 1 percent, simply restores some fairness and a sense that we're all in this together. "
Obama, Source: 2007 Democratic debate at Drexel University Oct 30, 2007

"There's no doubt that the tax system has been skewed. And the Bush tax cuts--people didn't need them, and they weren't even asking for them, and that's why they need to be less, so that we can pay for universal health care and other initiatives.

"But I think this goes to a broader question, and that is, are we willing to make the investments in genuine equal opportunity in this country? People aren't looking for charity. We talk about welfare and we talk about poverty, but what people really want is fairness. They want people paying their fair share of taxes. They want that money allocated fairly.

"One of the distressing things about Katrina was the fact that we have not made systematic investments. And the only way we're going to make it is by making sure that those of us who are fortunate enough to have the money actually make a contribution. "
Obama, Source:
2007 Democratic Primary Debate at Howard University Jun 28, 2007

"Our government has to be looking out for these people who are working hard everyday trying to make ends meet and right now we've got a set of policies that are not reflective of that."
Obama, Source: Press Release, "Creating Jobs in America" Jun 21, 2008
"I think the best way to approach this is to adjust the cap on the payroll tax so that people like myself are paying a little bit more and people who are in need are protected," the Illinois senator said.

"That is the option that I will be pushing forward."
"What we need to do is to raise the cap on the payroll tax so that wealthy individuals are paying a little bit more into the system, if we are going to deal with this problem specifically. Right now, somebody like Warren Buffet pays a fraction of 1 percent of his income in payroll tax, whereas the majority of the audience here pays payroll tax on 100 percent of their income. I've said that was not fair."
Obama, Source: 2008 Facebook/WMUR-NH Democratic primary debate Jan 6, 2006
"Social Security is not in crisis; it is a fundamentally sound system, but it does have a problem, long-term. We've got 78 million baby boomers, who are going to be retiring over the next couple of decades. That means more retirees, fewer workers to support those retirees. We are going to have to do something about it. The best idea is to lift the cap on the payroll tax, potentially exempting middle-class folks, but making sure that the wealthy are paying more of their fair share, a little bit more."
Obama, Source: 2007 Democratic debate at Drexel University Oct 30, 2007
"In cities and towns all across America it turns out that people pay for their own lunches and their own dinners. People who make far less than we do."
Obama, source: NY Daily News, Thursday, March 9th 2006

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