United States Treasury Secretary Tim Geithner has hit the campaign trail to push the Obama Administration's recent efforts to let tax cuts expire for those with incomes above $250,000 per year.
Geithner went onto national television to argue that with the economy slumping and deficit rising, it only makes sense for the rich to increase their contribution to the nation's coffers.
http://xml.channel.aol.com/xmlpublisher/fetch.v2.xml?option=expand_relative_urls&dataUrlNodes=uiConfig,feedConfig,entry&id=915486&pid=915485&uts=1280173846
http://cdn.channel.aol.com/cs_feed_v1_6/csfeedwrapper.swf
New Black Charity Leaders
Hill Harper: This Harvard law school graduate-turned-actor has helped motivate youth through his MANifest Your Destiny Foundation, a non-profit organization that provides young men and women with nurturing support systems, resources, encouragement, and guidance through mentorship, scholarships and grant programs. Harper regularly travels around the country providing motivational workshops to youth and educators, and has authored two books, 'Letters to a Young Brother' and 'Letters to a Young Sister' to further help our youth develop productive futures.
Getty Images for NAACP
WireImage.com
BlackVoices.com
Obama to Tax the Rich?
Mary J. Blige: This international R&B superstar has become an advocate for women by co-founding the Foundation for the Advancement of Women Now (FFAWN), opening the Mary J. Blige Center for Women in Yonkers, NY, and adopting an all-girls public high school in the Bronx, NY by serving as a mentor and providing college scholarships.
Obama to Tax the Rich?
Chris Rock and Malaak Compton-Rock: Chris Rock has donated quietly for many years to his local Salvation Army where he spent time as a youth, but his wife Malaak Compton-Rock is taking the couple's philanthropy to new heights through her organization The Angel Rock Project, and its program Journey for Change that empowers youth through global service. Want to learn 100+ ways to live a life of service? Check out her new book, 'If It Takes a Village, Build One.'
Obama to Tax the Rich?
Usher: This R&B superstar wants to groom the next generation of leaders and philanthropists! Usher's New Look Foundation provides career development, service opportunities, mentorship, and grants for youth led service projects through its Camp New Look Leadership Academy, Moguls in Training program, and Powered By Service, an initiative designed to get young people involved in changing their communities and the world. At the initiative's launch in 2009, Usher pledged $1 million dollars to the project, which has plans to mobilize over 5,000,000 youth in a global call to service.
Obama to Tax the Rich?
Hill Harper: This Harvard law school graduate-turned-actor has helped motivate youth through his MANifest Your Destiny Foundation, a non-profit organization that provides young men and women with nurturing support systems, resources, encouragement, and guidance through mentorship, scholarships and grant programs. Harper regularly travels around the country providing motivational workshops to youth and educators, and has authored two books, 'Letters to a Young Brother' and 'Letters to a Young Sister' to further help our youth develop productive futures.
Obama to Tax the Rich?
Alicia Keys: As the co-founder and global ambassador for the non-profit organization Keep A Child Alive, Alicia was inspired to support HIV/AIDS treatment initiatives after a trip to Africa. Because of her dedicated efforts, the organization has raised millions of dollars for AIDS patients in Africa and India, ensuring that they receive life saving medical treatment.
Obama to Tax the Rich?
Rodney Peete and Holly Robinson-Peete: Actress Holly Robinson-Peete became an advocate for autism after her son was diagnosed with the disorder. In an effort to help others living with the autism, Holly and her husband Rodney recently released the books, 'Not My Boy' and 'My Brother Charlie.' Inspired by their son and Holly's father who passed from a battle with Parkinson's disease, the couple formed hollyrod4kids with the mission to help improve the quality of life of people plagued with devastating life circumstances.
Obama to Tax the Rich?
Steve Harvey: This best-selling author and syndicated radio personality is on a mission to mentor young boys and help groom the next generation of leaders through the Steve Harvey Mentoring Weekend for Young Men, the Steve Harvey Disney Dreamers Academy and the Steve Harvey Foundation. He shared on his foundation's blog, "...you are blessed to become a blessing period. God does not bless us to become blessings and not reach back and give in our community."
Obama to Tax the Rich?
Alonzo & Tracy Mourning: This philanthropic couple each have initiatives that inspire, empower and enrich the lives of youth in Miami, Florida. In 1997, Alonzo founded Alonzo Mourning Charities, which has raised over $7 million for non-profits serving at-risk children and youth, and the Overtown Youth Center for underprivileged youth. His wife Tracy created the Honey Shine Mentoring program for young girls. Due to their charitable efforts, a high school was named in their honor -- Alonzo and Tracy Mourning Senior High Biscayne Bay Campus!
Obama to Tax the Rich?
Specifically, Obama and his economic advisors argue that families earning over $250,000 per year should have their Bush era tax cuts removed, and that these that these tax cuts were part of the reason for our current economic crisis.
"We're in a transition... from the extraordinary actions the government had to take to break the back of this financial crisis to a recovery led by private demand," Geithner told the NBC program 'Meet the Press.' "That transition is well under way. It's going to continue and it's going to strengthen."
One of the challenges for the Obama Administration is that some believe that getting rid of tax cuts for the wealthy will hurt small businesses. But the administration has made it clear that this will not be the case.
Whether you agree with Obama's decision to allow the wealthy to pay more in taxes is primarily an ideological divide. There are some who believe that wealth should be shared, and that a weak distribution of wealth is bad for our nation. There are others who believe that those who have wealth are entitled to keep every penny, including the billionaires who've died this year without paying a single cent in estate taxes (which, for some strange reason, have been completely repealed for one year).
One thing that's clear about the United States is that we are an incredibly greedy nation. Our distribution of wealth is the worst among all industrialized countries other than Switzerland. The wealthiest 20 percent of Americans have accumulated 94 percent of the non-residential wealth created by our nation over the past 20 years, which some might feel to be appalling. Also, being the richest country in the world, we've somehow become convinced that holding onto our luxury is more important than saving the dying poor in other countries. And we consider ourselves to be a Christian nation?
Given the reality of such poor wealth distribution, letting the tax break on the wealthiest Americans expire is hardly an issue worth fighting over.
Dr. Boyce Watkins is the founder of the Your Black World Coalition and a Scholarship in Action Resident of the Institute for Black Public Policy. To have Dr. Boyce commentary delivered to your email, please click here. 
Trump: I'd Let Romney 'Go At It' With Wright Attacks
Breast Cancer Patient Allegedly Fired TWICE While Seeking…
Comments: (15)
Add a comment
By: T.R. on 7/31/2010 9:31PM
WELL I AM SURE THE MEDIA ELITES, HOLLYWOOD ELITES, AND MUSIC MOGULS ARE NOT TOO HAPPY ABOUT THAT. AS FOR THE BIBLE SOME HAVE FORGOTTEN THE SCRIPTURE MY UN-EDUCATED GRANDPA USED TO SAY TO ME AND ALL THE REST OF THE FAMILY "IF YOU DON'T WORK YOU SHOULD NOT EAT". HE RAISED A HOUSEHOLD OF FIVE CHILDREN, A WIFE AND SOMEHOW MANAGED TO SEND FOUR OF THEM TO COLLEGE. COULD NOT DRIVE A CAR, COULD NOT READ. NOW ALL OF HIS HARD WORK, AND HIS SONS AND DAUGHTERS, HIGHER TAXES FOR THOSE WHO HAVE NO WILL OR DESIRE TO WORK. WHEN WILL WE LEARN THE WORLD DOES NOT OWE US ANYTHING JUST BECAUSE WE ARE BLACK? WE NEED TO MAKE OUR OWN WAY. GOD HELP US.
Reply to this Comment | Report This
By: Ann on 8/03/2010 9:11AM
What makes any of you people think you are entitled to someone elses money? I don't care if they earned it, or inherited it. It's theirs!!!!! Not yours. Not the governments. What makes you think for a second that they should give it to you???? Because you want it?? Give me a break. Take care of your own family and yourself and stop the class warfare. It's beneath true Americans. And yes...the rich do create jobs. if you consider $250,000 a year rich. Most small businesses would fall into that category. Where are your lazy kids gonna get jobs if not for the local coffee shop or appliance store?
Reply to this Comment | Report This
By: hgygy2 on 8/06/2010 9:20PM
(2010 new fashion brand shoes)
N I K E Shoes($35): http://www.vipshops.org
H a n d b a g ($35): http://www.vipshops.org
U G G($80) N F L ($35): http://www.vipshops.org
%&#% dghjdr dfjdrt drtjsr rfth r
Reply to this Comment | Report This
By: Gabe on 9/07/2010 12:31PM
Ann, you clearly don't understand what's going on. People don't want the rich to share their wealth with the poor. People want the rich to pull their own weight in society. Right now, the burden of maintaining society's infrastructure is placed solely on the backs of working class. What, you don't think the rich should pay taxes to help pay for road maintenance, police, fire & rescue, etc., just because they are employers? They evade taxes "legally" while the rest of us pay. Target, Wal-Mart, etc. don't pay property taxes all the while local governments build their facilities for them with our tax money! Do your own research, you'll probably be appalled!
What about this ridiculous practice of letting big business CEO's continue to cut employee pay to under poverty level just to pay themselves MORE lavishly? Don't get me wrong, it's obvious that people that have earned higher positions should earn more money than the rest of us, nobody in their right mind would disagree with that. But the rich shouldn't bleed the middle class dry for their own avarice AND they should contribute to maintaining the infrastructure. A weak middle class is what makes poor countries poor.
Wake up and think a little before mouthing off with nonsense, Ann! We'll stop the class warfare once these greedy corporate idiots stop attacking the working class!
Reply to this Comment | Report This
By: Teri on 9/17/2010 2:30PM
If you don't pay any federal income tax, why wouldn't you want bigger government?
• The question of who pays taxes is important, but so is the question of who receives government spending. Some Americans clearly receive more government spending in exchange for their tax dollars than others;
• America’s lowest-earning one-fifth of households receives roughly $8.21 in government spending for each dollar of taxes paid. Households with middle-incomes receive $1.30 per tax dollar, and America’s highest-earning households receive $0.41 per tax dollar;
• Government spending targeted at the lowest-earning 60 percent of U.S. households is larger than what they paid in taxes in 2004. Overall between $1.03 trillion and $1.53 trillion was redistributed downward from the two highest income quintiles to the three lowest income quintiles through government taxes and spending.
Reply to this Comment | Report This