Taxation is major issue in the economic system of the United States of America. The Democratic party feel it is necessary to impose certain taxes to increase government funding and revenue. Currently, Obama has agreed to the deal presented by the Republicans to cut taxes for now in order to stabilize Congress. This also serves as a tool for Obama's next reelection. However, as part of the Democratic party, one must not forget that taxes need to be raised, and raised accordingly to each individual's income. This means that the rich obviously will get a high percentage of their income deducted, which the Republicans seem to current reject. By doing so and cutting spending by the government at the same time, we will be able to relieve part of our debt. The biggest problem is that taxation also takes a toil on the people, so it is very crucial that the Democrats conjure a very succulent tax policy that will gain the support of the people.
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