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Wednesday, 25 January 2012

Obama wants to create jobs and increase equality

Obama wants to raise taxes for companies that are outsourcing the jobs out of US and increase subsidies for those who are bringing jobs back to US.

He also wants to simplify the ladder for workers to retain their skills in order to take advantage of the job openings for the engineering industry. He is ending subsides for the Oil and Gas industry and is trying his best to fund the renewable energy industry.

Taxes for the wealthy is set to rise to at least 30%. This is after Buffett created a debate about the low tax rates that he gets as compared to his secretary, Debbie Bosanek. She is set to sit next to first lady's box in the House of Representatives for Obama's annual address.  He is also clamping down on the workers who are earning big bucks in Wall Street and wants to remove moral hazard in this industry. Refusing to bail out any companies that are on the brink of bankruptcy.

 He is using the cost savings from the withdrawal of troops in Iraqi and Afghanistan, to build infrastructure and to pay down the government debt. For the housing front, he is planning to help owners to refinance their houses at a lower interest rate and to remove those misleading rates and risky mortgages that the industry is known for.


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