This tax cut also keeps a fundamental promise: that Americans who work hard should be able to make a decent living. It lifts more than 2 million Americans out of poverty. And together with the child tax credit, it ensures that a working parent will be able to support their family.
Fourth, we are helping more Americans purchase homes that they can afford. Just as we must put an end to the irresponsible lending and borrowing that created the housing bubble, we must restore the home as a source of stability and an anchor of the American Dream. That's why we're providing a tax credit of up to $8,000 for first-time home buyers, which will put a home within reach for hardworking Americans who are playing by the rules and making responsible choices. And by the way, there are at least a couple of folks here who have already used that $8,000 credit, and I think it's wonderful to see that this is already prompting some willingness for people to go ahead and make that first-time purchase where they thought maybe it was out of reach before.
Fifth, we know that tax relief must be joined with fiscal discipline. Americans are making hard choices in their budgets, and we've got to tighten our belts in Washington, as well. And that's why we've already identified $2 trillion in deficit reductions over the next decade. And that's why we're cutting programs that don't work, contracts that aren't fair, and spending that we don't need.
For too long, we've seen taxes used as a wedge to scare people into supporting policies that actually increased the burden on working people instead of helping them live their dreams. That has to change, and that's the work that we've begun. We've passed tax cuts that will help our economy grow. We've made a clear promise that families that earn less than $250,000 a year will not see their taxes increase by a single dime. And we have kept to those promises that were made during the campaign. We've given tax relief to the Americans who need it and the workers who have earned it. And we're helping more Americans move towards their American Dream by going to school, owning a home, keeping their business and raising their family.
God, what must we do to have a President like Obama, who not only promises but sees thse promises through, who is eloquent and inspirational, realistic and idealistic, empathetic and strong? Who is not corrupt, obsessed with hoarding wealth and power, who puts everyone else last. Dammit! Every working Filipino knows the weight of taxes taken every month. And, I am fairly ceratin, most grumble about where these amounts are going. No wonder we are seeing a renewed wave of desire from yuppies, fresh grads, and college students to migrate to other countries. What will it take? When will it happen? Sigh.
For Obama's entire statement, click here.
3 comments:
Barack Racks!!
I was so sure his words would make me cry and send me into fits of self-pity, I didn't bother to read your post. :-P
ahh Pilipinas.
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