Friday, October 12, 2012

Vice Presidential Debate on Taxes



 

The Vice Presidential debate took place on Thursday, October 11.   It is said that the Vice Presidential debate is not really considered important because when people vote, they vote based on which President brings forward their best, not which Vice President.   As we have seen from the first Presidential debate, we did not receive much information about many topics, including taxes.  This Vice  Presidential debate gave us the chance to dive deeper into each party's platform on the issue.   

Martha Raddatz, the host of this debate, asked them if their party were to win who would pay more taxes than the other?  

Joe Biden stated that the middle class would pay less and those that continue to make more money would pay more.  Biden gives the example of the Bush tax cuts, being in his party's opinion, that it should expire.  He stated that there is no reason to continue giving an 800 billion tax cut to those making more than 1 million, especially in the current economic status.  The Democratic party wants to permanently keep the tax cuts for the middle class stating that the recession hit them hard and they deserve a break.

Paul Ryan stated that if their party were to win, the main focus is to help the economy grow and create more jobs.  He gives the example that under the Republicans, they would tax small business' 28% whereas his opponent would tax about 45% from small business owners.  He also stated that even if you double the percentage of tax on small business', it still wouldn't be enough to cover the deficit.  

The video shows more of the two candidates going back and forth with the issue of taxes.

Here are some things that were tweeted during and after the debate.









What were your thoughts about this debate?  Who do you think did a better job?

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