President Obama called on Congress today to extend the Bush tax cuts for those Americans making less than $250,000 per year.
Many members of the other party 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.
I disagree. I think they’re wrong. I believe our prosperity has always come from an economy that’s built on a strong and growing middle class — one that can afford to buy the products that our businesses sell; a middle class that can own homes, and send their kids to college, and save enough to retire on. That’s why I’ve cut middle-class taxes every year that I’ve been President — by $3,600 for the typical middle-class family. Let me repeat: Since I’ve been in office, we’ve cut taxes for the typical middle-class family by $3,600.
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