In a town hall meeting hosted by LinkedIn, President Obama showed that he
does know what he is doing when it came to the economy. Despite accusations by
Republicans that he is trying Destroy the country, he shows that he is very much
trying to save the country from an recession that was the Result of the 8 years
of the Bush presidency. He began by addressing the unemployment problem facing
the nation. He said that the American Jobs Act would put people back to work.
In regards to taxes , Obama said that the tax code must be reformed and that
everyone must do their share. I assume by everyone he meant the rich.
He said that the middle class should not pay higher taxes than the rich.
He said that in order for the economy to recover, America must pass the
American Jobs Act. He said that the bill would increase the GDP by 2% and would
increase employment by 1.9%. The numbers might sound small, but from the time
the economy was stable to the beginning of the recession the Unemployment rate
only increased so the small numbers have a large impact.
A small business owner asked the President if Obama if he would get rid of
taxes and regulations that hurt small businesses. To that question, he replied
that the government has already cut taxes for small businesses 16 times since he
has been in office.