My biggest worry is that Obama says he's going to tax the upper 5 percent by raising their taxes by 20 percent. But among that 5 percent are the corporations that are hiring middle-class Americans.
Sentiment: NEGATIVE
Most Americans are more concerned about the economy and job creation. And they can't understand why the Obama administration or the Democrat majority in Congress wants to pass a bill like the cap-and-trade tax that will cost us jobs, that will hurt our economy, that will drive up costs for families, as well as for small businesses.
There will be a big tax cut for the middle class. But any tax cuts we have for the upper class will be offset by less deductions that will pay for it.
'Obama and Biden want to raise taxes by a trillion dollars.' Guess what? Yes, we do in one regard: We want to let that trillion dollar tax cut expire so the middle class doesn't have to bear the burden of all that money going to the super-wealthy. That's not a tax raise. That's called fairness where I come from.
At the end of the day, Republican-driven tax reform is not only going to be good for the economy and for growth. It's going to be good for middle-class Americans.
I worry about growing income inequality. But I worry even more that the discussion is too narrowly focused. I worry that our outrage at the top 1 percent is distracting us from the problem that we should really care about: how to create opportunities and ensure a reasonable standard of living for the bottom 20 percent.
I am very concerned about anything that says 'revenue' because let's just be honest; revenue for Democrats has become code for tax increases.
You walk into any supermarket or any shopping mall and ask the public what they are worried about. Not one of them will tell you they are worried about 12 years of Mitt Romney's tax returns.
Obama wants to take the individual small business tax to 44 percent, and the corporate rate - he says - down to 28 percent or whatever. But that really damages the small businesses. And it doesn't make us competitive. You got to take them both down to 20, because state and local corporate taxes are 5 percent.
By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.
I think the latest estimates were that we have about 250,000 millionaires and billionaires. President Obama wants to increase their taxes 13 percent.