WASHINGTON — From front to back and on nearly every page, President Barak Obama’s new budget plan delivers a message that’s seldom been heard in American politics for more than three decades: It’s time for the rich to pay their fair share and lighten the load on the middle class.

It’s not just Obama’s long-promised middle-class tax cuts. In education, health care and an array of other proposals, the new budget strategy would focus more benefits on ordinary Americans and look to the affluent for more help in paying for them.

The change is meant to reverse a long-running trend in the opposite direction.

Source:  Chicago Tribune

Since the 1980s, when President Reagan began an era of tax-cutting that continued for more than two decades, lower-class incomes have stagnated, middle-class incomes have increased only slightly, but the incomes of the richest Americans have skyrocketed.

Obama believes that if the country is going to recover from this economic crisis, the middle income earners must get help. “Throughout our history, the United States has grown and prospered when all Americans have shared in the opportunities created by our economy.”

Currently, the top 20 percent of taxpayers pay 80 percent of all taxes and 40 percent pay no income tax.  Under Obama’s plan, the top 20 percent of tax filers would pay 90 percent of all taxes; the number of families that owe no tax would climb to near 50 percent. 

Obama will face resistance from the Republicans and probably from many wealthy Americans, I’m sure.  While we can’t be sure if his plan will succeed, we must hand it to him – he is not afraid of change and he has the courage and will to carry it through. 

Credit should also go the American public.  Many would have anticipated fundamental changes to public policies when they voted Obama in (’change’ was his campaign theme after all).  It takes courage to step out of our comfort zones, to try out new things and challenge existing structures and mindsets. 

How do Singaporeans fare in this department?  Let us know.

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