In order to make some solutions to avoid the deadly fiscal cliff, President Obama initiated a public relations exercise to execute his plans to raise the taxes on those Americans who are wealthy.
But members of the US Congress are a big obstacle to his dreams as they are very much against this year end tax increases and announcing spending cuts which may become necessary to avoid fiscal cliff. The small business owners are supporting Obama’s move for lox tax rate for middle class and high tax rate for wealthy taxpayers.
If consumers can spend money, then it can help a lot in turn around of the US economy. They can do a lot of purchases if they can get two to three thousand dollars every year for extra spending. US Congress members are of the opinion that if the tax rates are imposed on the wealthy Americans, then it may discourage investment by the businessmen and it may hamper hiring process, which is very crucial at this hour of increasing unemployment rate.