Rick Santelli

Our nation faces a lot of problems these days; big problems. But, this era is different from others; neighbors and friends used to discuss solutions, but now citizens have become very divided in this nation. Not a good way to solve problems. We, as a society must avoid partisan bickering and try not to point the finger of blame. Pointing that finger isn’t going to solve the problem; we must come together as Americans and work to find a solution.

Consider the national debt; as a country, all US citizens know that we cannot sustain this debt. Follow this link to an accounting of the US Debt http://www.usdebtclock.org/  What is the better approach to decreasing our debt and deficit?  Should we cut spending, raise taxes, do a bit of both? No one seems to have the real solutions.

A solution has been proposed to tax the wealthy at a higher rate. After all, how much money do Bill Gates and Warren Buffet really need?  Sounds fair enough? After all, they should share their wealth, right? Taxing them at a higher rated would generate more revenue which is what we need; it seems only fair. But not long ago, I read that increasing taxes on the wealthy, would not solve our problems of money: Bill Clinton concurred. What I read further reasoned that if taxes were increased on the wealthy, who own a lot of small businesses), many of them wouldn’t offer a job to that seasonal worker, or they wouldn’t be able to offer an attractive benefit package.

Another figure that was considered the ‘cut-off’to be considered wealthy  i(s a yearly income of greater than $250,000. If that person’s taxes increase (because he makes more than $250,000/year, he’ll will be less able to pay the salary of his 8 workers and may need to let a good worker go. The same is true of the millionaire who pays millions in taxes, already. Then, after the millionaire has paid taxes on the profits, he proceeds to divide the profits up amongst the employees, leaving some-but not much-for himself.

The tape below shows a fellow who majored in Economics and now works on the Chicago Mercantile Exchange. Active in forming the tea party as not wanting to raise taxes, Rick Santelli of CNBC had this to say about our debt:

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