President Obama’s Tax Speech 6/29/2011- Campaign Promises or Actual Promises?

Barack Obama

Today we were turning on “The Price is Right,” but were greeted by a speech by President Obama about topics having to do with taxes, and how we need to fix the budget deficit.  The speech was quite eloquent and practical. offering solutions to problems.  However, the alarm was going off in my head and warning me of campaign promises that have yet to be accomplished.  Is this a speech to raise a presidential approval rating, or a speech of actual change.

President Obama did talk about how we need not be cutting education, scholarships, and other public services necessary.  President Obama kept insisting that there would be no rising taxes for the middle class, and we need to raise taxes on the wealthy CEO’s, the Hedge Fund Managers; the millionaires and billionaires.  This is all the right places to look for increasing revenue for the government while not penalizing Joe the Plumber.

I kept thinking to myself how unlikely these changes are to happen.  President Obama might have just lost financial support from many corporations who do not want the taxes changed.  Where he’s hoping to resonate is the voters in the middle class and lower, the individuals who make America run.  It will be interesting to see campaign contributions from companies to President Obama’s reelection campaign after this speech.

The speech was exactly what needed to be said, but I am afraid it will fall by the wayside.  We need change to happen quickly and uniformly, so that we do not continue further down and eventually resulting in the default of the United States Government.

What do you think about the speech or this analysis of it?

Image: Barack Obama by Petr Kratochvil