Barack Obama: Rich People Will Pay Minimum 30% Tax Rates

Barack_Obama President Barack Obama’s speech on his State of the Union. Mr Obama said, “Now, you can call this class warfare all you want. But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense.”

This is called Buffet rule where the rich should pay more on taxes. He also stated that there will be higher taxes for corporate if that corporation outsource a job abroad while the company stays in America will get lower taxes. “From now on, every multinational company should have to pay a basic minimum tax. And every penny should go towards lowering taxes for companies that choose to stay here and hire here.” Obama said in his State of the Union speech.

Obama also offered steps to help students afford college, a plan for more struggling homeowners to refinance their homes and tax cuts for manufacturers. He threw in politically appealing references to accountability, including warning universities they will lose federal aid if they don’t stop tuition from soaring.

For home owners

"I’m sending this Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low rates. No more red tape. No more runaround from the banks. A small fee on the largest financial institutions will ensure that it won’t add to the deficit and will give those banks that were rescued by taxpayers a chance to repay a deficit of trust." more here State of the Union: 10 highlights from Obama’s speech

The speech is great but there will always be hard challenges – since the age of kingdom – if a country not so friendly to millionaire club. An example of the recent SOPA, PIPA and ACTA bills where MPAA Directly & Publicly Threatens Politicians Who Aren’t Corrupt Enough To Stay Bought is what rich club can do, not just in US but almost all over the world.

Just like wise man once said,”who has the gold, he creates the law.”

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