I agree with Obama  -- our tax system is unfair!

"Republicans believe that prosperity comes from the top down, so that if we spend trillions more on tax cuts for the wealthiest Americans, that that will somehow unleash jobs and economic growth." Barack Obama.

http://news.investors.com/article/617653/201207101819/obamas-rhetoric-demonizes-success-and-wealth.htm

"Those at the very top grew wealthier from their incomes and their investments – wealthier than ever before. But everybody else struggled with costs that were growing and paycheques that weren't – and too many families found themselves racking up more and more debt just to keep up." Barack Obama.

http://www.guardian.co.uk/world/2011/dec/07/full-text-barack-obama-speech?newsfeed=true

Those nasty, greedy, venture capitalists who make their money on the backs of the little folk. Nasty, greedy folks like Michael Moritz and his wife, Harriet Heyman. They just donated $115 million to help students whose families make less than $25,000 attend the University of Oxford. Wonder if Obama will be vilifying him?

"$115M gift to aid low-income students." The Dallas Morning News; July 12, 2012; p. 11A.

Incidentally, I'd just like to clear up a couple of points for Obama. 

Prosperity has to come from the top down. Think about it -- how can it come from the bottom up? (Obama has changed that recently to "from the middle out"). Poor people don't hire other people or open new businesses. Poor people don't pour money into the economy. Poor people don't pay taxes. People with enough initiative to work hard and invest their money properly and make wise purchases are the ones who open businesses and hire other people. That, in turn, allows those who were hired by those nasty business owners (who, according to Obama, didn't build their businesses) to begin to save and spend and pay taxes and work toward fulfilling their financial goals.

The government does not spend money for tax cuts. Taxes are revenue, not expenditures. The federal government doesn't have a revenue problem -- it has a spending problem. 

It is a proven fact that every time tax cuts have been enacted, the federal revenue has increased. It happened under Kennedy and it happened under Reagan and it happened under Bush. Obama, himself, conceded that point the last time he was a presidential candidate, and that great Democrat John Kennedy said that the way to help a struggling economy was to cut taxes, not raise them. But with Obama, it's not about raising revenue -- it's about promoting class envy so that he can retain power.

So what if the wealthy got wealthier? The top 1% of taxpayers pay about 38% of total federal income taxes while earning only 16% of income. The top 5% pay 59% but earn only 31%. Meanwhile, the bottom 50% earn 13% of income, but pay only 2% of taxes. No, I don't think the wealthy are getting wealthy off the little guy! I'll agree that the system isn't fair, but it's the big guy who's drawn the short straw!

Incidentally, the government could take every penny of income from the top 1% and it wouldn't go far in solving the revenue problem -- it would fund the government for approximately 8 days.

Yes, I agree with Obama - our tax system is unfair, but it's not the wealthy who are favored.