(CNN)– President Obama called on Republicans and Democrats in Congress to work together to reform corporate tax laws "to simplify the system."
"Get rid of the loopholes. Level the playing field. And use the savings to lower the corporate tax rate for the first time in 25 years - without adding to our deficit," Obama said in remarks prepared for delivery in his State of the Union address.
I find it very annoying when I hear conservatives and tea party solution to the federal budget deficit is to cut spending and to reduce taxes. Look at the OMB statistics for the war periods WWII, Korean, and Vietnam and federal tax receipts increased for those periods. But for the Gulf and Iraq wars, tax receipts decreased while the outlays increased (to cover those wars). During periods of war, sacrifices need to be made. For some, sons and daughters, fathers and mothers, brothers and sisters picked up arms and went into battle. Perhaps others (those in the top 2% income) need to make a sacrifice in the way of a temporary tax increase to pay for the Iraq war.
Do NOT extend the TAX CUTS for the RICH any further!!
President Obama did an excellent job in covering all the needs of this country. I like the fact that he continued to stress the need for both parties to work to together in solving the problems. He stressed it will not be easy and all won't agree but the good of the people is his goal. I feel his success is dependent upon the cooperation and the desire of the Republicans to want to achieve the same goal and not fight against everything like they have these past two years. Their goal seems to be to defeat the democratic party at any cost, people, nation,anything that stands in their path. I think they fail to care that the world is watching and wondering what kind of democracy is this? Disrespect is rampant and ugly. Is the party all that is important? I applaud the president who understands the right to disagree and is a gentleman at all cost. He remains on task.