President Obama's fixation on millionaires

[Value Buy]

The President disagrees with the head of the IMF on the issue of taxation of the few for the benefit of the many.

Austerity Upon Austerity Doesn't Work: Lagarde

This was an interview with Maria Bartiroma on CNBC today
CNBC EXCLUSIVE: CNBC TRANSCRIPT: CNBC'S MARIA BARTIROMO SPEAKS WITH IMF MANAGING DIRECTOR CHRISTINE LAGARDE

[Value Buy]

From the article:

While she would not address her own country's recent moves to tax the highest earners at a staggering 75 percent tax rate, she did say typically what works to goose economic growth is spending cuts combined with tax changes such as broadening the tax base while lowering tax rates.

Not increasing taxes so severely the way France has done. She was quick to remind me that while the IMF has cut economic growth expectations, the global economy is still growing some 3 percent and that Asia is increasingly critical to that growth.

[mwcpa]

www.cnbc.com/id/49376712

"CHRISTINE LAGARDE: The IMF has been warning for quite a while about the uncertainty risk associated with a fiscal cliff and the debt ceiling-- both of them. This uncertainty's going to increase as we get closer to your end. And it's a concern because, you know, investors households, people who want to buy a house, make an investment, hire people, would like to know what the environment is going to be like and what the fiscal deficit-- momentum and process will be in 2013, and more importantly, going forward, so that they appreciate exactly what environment they will be in, what tax rates will apply, what loopholes will survive or not. "

Why is this on the President.... this should be on Congress and the few who are holding things hostage and who cannot come to a deal or compromise.... we all know to the extremists that compromise is the same as failure.

Very misleading title to the post.

[Tennesseer]

Obama isn't mentioned once in the transcript.

Maybe the thread title should read 'Poster Value Buy's Fixation On Obama'.

[AgeOfEnlightenmentSCP]

Taxing the rich sure isn't working in France.

[Value Buy]

It is the President who demands the millionaires in America (anyone over $250,000a year actually) who is to pay the bill.
The head of the IMF is saying you must have a broad tax base to maintain Government revenue without hurting the economy.