The Daily Illini
URL: http://www.dailyillini.com/index.php/article/2012/01/obama_talks_tax_reform_job_creation_and_national_deficit_in_state_of_the_union
Current Date: Sat, 26 May 2012 16:19:13 -0500
Obama talks tax reform, job creation and national deficit in State of the Union
With President Barack Obama’s fourth State of the Union address delivered Tuesday evening, American ingenuity was praised and marked as the way to economic recovery and superiority.
Obama outlined the nation’s current economic crisis, and the way in which it happened. But before long into his speech, he provided an example of an industry once marked as a lost cause finding its way back.
“Today General Motors is back on top as the world’s No. 1 automaker,” he said. “Ford is investing billions in U.S. plants and factories. And together the entire industry added nearly 160,000 jobs.”
Job creation was a major point of contention — one Obama planned to attack with a multilevel plan, including addressing better funding for education and discouraging outsourcing.
Obama also called for tax reform, laying out a no-nonsense plan.
“If you make more than $1 million a year, you should not pay less than 30 percent in taxes,” he said.
Obama mentioned Warren Buffett by name, a strategy that presidential rhetoric expert and University professor John Murphy called a hit at Republican presidential hopeful Mitt Romney.
“Clearly, Romney is the poster child for (the) Buffet rule, and Obama’s going to keep talking about it,” Murphy said.
Obama continued to address the economy while putting it into the framework of paying down the national deficit, a major issue of the summer and fall in Congress.
“A return to the American values of fair play and shared responsibly will help us protect our people and our economy,” he said. “But it should also guide us as we look to pay down our debt and invest in our future.”
Education was also addressed as a way to improve America’s future, and Obama proposed that states bar high school students from dropping out of school until reaching the age of 18.
“We also know that when students aren’t allowed to walk away from their education, more of them walk the stage to get their diploma,” he said.
Higher education was also in the president’s sights, and Obama said increasing tuition rates would mean a decrease in federal funding. The University Board of Trustees voted to increase student tuition by 4.8 percent earlier this month.
Illinois Gov. Pat Quinn praised Obama in a statement issued Tuesday night, mentioning the president’s rhetoric of American responsibility.
“And as the President said, an America built to last calls for responsibility from each of us and fairness for all.”
Most Popular
- The College Veterinarian: Defending your lifestyle choices |
4/27/2012 - 10:49 AM
Posted in: On the Town - As seen on TV: Pillow Pet |
4/23/2012 - 6:36 PM
Posted in: On the Town - Homemade remedies: under eye bags treatments |
4/23/2012 - 11:22 AM
Posted in: On the Town - The College Vegetarian: When your significant other is a meat eater |
4/20/2012 - 8:29 AM
Posted in: On the Town - As seen on TV: Aqua Globe |
4/17/2012 - 4:40 PM
Posted in: On the Town
- Mark on Quad construction heats up over summer months
- Ned on FDA should ‘Just Label’ genetically modified products to increase consumer awareness
- Amused on UI ‘Apartheid Wall’ only perpetuates ignorance
- Dean Wormer on Daily Illini will not receive student fees for 2012-13 year
- David Green on UI ‘Apartheid Wall’ only perpetuates ignorance








Reader Comments
Be the first to comment on this article!
Post new comment
You Should Know: The Daily Illini reserves the right to remove any comment deemed racially derogatory, inflammatory, or spammatory. Repeat offenders may have their IP address banned from posting future comments. Please be nice.
Comments will not appear until approved by a site moderator.