On Tuesday January 24th, President Obama spoke about his future plans in his State of the Union Address. One of his main focuses was economic inequality. In order to balance this inequality, Obama proposed tax cuts to those making under $250,000 which I think is somewhat unfair. I firmly believe it would make the most sense if the middle class and upper class paid the same percentage of their income. In this way, everyone would be paying the same rate, but the extremely rich would in a sense be paying more because a fixed percentage of their incomes would be greater than those of the middle class. If it were done this way, it would be a balance of equality and trickle down economics.
One thing that I agreed with in Obama's speech was the fact that he wants to cut tax breaks for companies that move jobs overseas. This would be a great incentive for companies to create jobs in America and strengthen our economy. I also support the fact that Obama wants to give tax breaks for companies that hire Americans.
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