Obama delivered a State of the Union address and will impose a heavy tax of more than 30% on the richest class

Obama delivered a State of the Union address and will impose a heavy tax of more than 30% on the richest class (Alberta Times) U.S. President Obama delivered a State of the Union address to Congress on the 24th, creating...

(Alberta Times)

U.S. President Obama 24 In his State of the Union address to Congress, Obama focused on job creation and tax reform. International relations did not occupy a special space. Obama's entire speech focused on creating a fair economic environment and improving U.S. competitiveness. In terms of corporate tax reform, Obama pointed out that American companies that outsource work overseas will not be able to obtain tax exemptions. American companies should not have to pay the same business tax rate at home just because they outsource work and make profits overseas. All U.S. multinational corporations must pay basic business taxes. The extra tax dollars from the government will support tax breaks that create jobs. In addition, manufacturers who choose to stay in the United States will receive substantial tax breaks. If high-tech industries manufacture products in the United States, the tax breaks will be doubled. Obama said, "The new system is quite simple. Businesses who outsource jobs from overseas to the United States will be rewarded, and corporate tax incentives for outsourcing jobs will be cancelled." As for the extremely controversial wealth tax measures, it will be based on the law proposed by stock investor Warren Buffett. The richest class in the United States with an annual income of more than one million US dollars, regardless of where the income comes from, the tax rate must not be lower than 30%. The government should not continue to provide tax relief or subsidies to the rich. Tax rates should not be raised for the 98% of people whose annual income is less than $250,000, including the majority of middle-class and working-class families. Stock god Buffett once said that the tax he pays is lower than that of his secretary, and that the tax burden on wealthy Americans is unreasonable. Buffett's remarks became the basis for Obama's tax reform. Obama emphasized that the United States will not be upset when others successfully make a lot of money. When most Americans talk about the taxes they should pay, they are not jealous of the rich people who earn more, but because the rich do not need these tax incentives, and the country cannot afford the overall tax shortage caused by the incentives. Obama said that the American people will think that this is the right thing to do. The successful accumulation of wealth by rich people in the past comes from the understanding of the future of the country and mutual support by the predecessors. The foundation of American life must be based on the same awareness, so that national development can have a future. Obama also mentioned that he would set up a trade investigation and financial crimes team to investigate unfair trade and Wall Street misconduct to put the U.S. economy on the right track.