March 2nd, 2009
11:09 PM ET

On the Radar: "Obama Robin Hood"

Maureen Miller
AC360° Writer

Under President Obama's budget proposal, he wants to increase taxes on those making more than $250,000. Those who oppose the plan say he has become "Obama Robin Hood" by taking from the rich to give to the poor.

So, how does the Obama Administration's definition of wealthy square with reality? Tuesday on AC360°, Randi Kaye will focus on two families making above $250,000 – one in New York City and one in a small town to show how different the tax plan may prove to be.

Join us for this story and more at 10pm ET.

See you then!

Filed under: 360° Radar • Maureen Miller
soundoff (21 Responses)
  1. Michael "C" Lorton, Virginia

    The modern day Obama Robin Hood has to reaize that what he preceives as "wealthy" individuals (greater than 250K)--well even the rich has it limitations-–what do you do after you have robbed the rich?

    March 3, 2009 at 9:37 am |
  2. Maria

    Happy Day All,

    America need this plan to reprogram capitalism, it is great step to return the cycle to the norm.

    March 3, 2009 at 9:34 am |
  3. Larry L.

    The debt load we are taking on will hurt future generations for decades as our currency is diminished against all other currencies of the world, making our country's exports worth far less, while making all imports (including oil and cars) far more expensive for all of us. With Social Security estimated to go negative in 2017, our country is facing bankruptcy.

    March 3, 2009 at 8:54 am |
  4. sam, tn

    I believe this proposal will do great in stimulating the economy. Its not fair that so many get rich off the hard work of others. that’s what all this fighting is about in Washington is all about, (because a lot of politicians make a lot of money.)

    March 3, 2009 at 8:09 am |
  5. Bill

    You know his plan wont work for people like me and other's who have the same problem. i cant even get food stamps we have 4 kids and we were over because of 142 dollars which is my wife ex child support i lost my home i lost almost every thing i work 22 years at one company only to have to leave because of the banks so where is he now to help i see other getting help but im turn down every where i turn and it just not fair

    March 3, 2009 at 7:56 am |
  6. Dulcie - Denver

    I beg to differ with those who say that the stock market is tanking because of President Obama's plan to increase taxes on those making over $250,000. No, the stock market tanked because the big investment firms (AIG), posted gigantic losses. It's unrelated to the tax plan. At the very least, it's a lot more complicated than the tax plan.

    President Obama campaigned on the promise that he'd tax those making over $250,000. We elected him, so obviously we thought that was a good plan at some point. I don't think it's a terrible plan, though the Republicans are screaming bloody murder over it. 'Trickle down' economics doesn't work, people. The working poor have only gotten poorer and the divide between the wealthy and poor has only grown wider over the past 8 years. Give this plan a chance to work.

    March 3, 2009 at 7:44 am |
  7. Vince

    I have a tendency to think like many other Americans that shifting more tax burden to those making $250,000 or more might ease my tax load but if I consider what my opinion would be on the other side of the fence my comfort factor decreases considerably. At 50 years of age I've battled hard and long to increase my income for my family's benefit and would deeply resent someone claiming more of my money for someone else's use. I would suggest to test the honesty of this theory as a solution that we allow all those who support the redistribution of wealth to volunteer to donate freely to the cause from their own pocket to not only seed the program but to demonstrate their conviction in its fairness. Most of us are only concerned with personal gain and I fear those who think adding more legislation will help us as a nation.

    March 3, 2009 at 5:47 am |
  8. Adam S.

    Rock on OBH! Keep robbing from each of these "hard working rick" according to his ability to pay up, and give it to us average working guys who need the money more. Workers of the world unite!

    March 3, 2009 at 5:42 am |
  9. Kevin Austin

    He can do it just give him a chance...

    March 3, 2009 at 2:51 am |
  10. Nafeesah

    U tell it like it is...My man Rich

    March 3, 2009 at 1:55 am |
  11. Rich

    Its not We the Republicans or Democrats . Its WE THE PEOPLE. Republicans what is the matter with you all. Stop complaining and get back to work. Republicans need to get over it and stop talking about the next election when this one has yet to even get started . We had the election did they miss it. Now its over move it.!
    What Republicans need is to get back to work and stop complaining. You lost the election. big deal. you work for us. Its "We the people" Not work the Republicans.Get over it already or your'll be getting out of your high and mighty chair next. They had there chance and messed up. Now be man enough or woman enough to support We the people Get over your egos gosh My 5 year old has more clarity than they seem to have any more.
    I am sorry but what is the matter with the Rich Republicans. They had there Republican man in the House and messed things up. If Republicans cant get in line and stop trying to start the next election 4 years ahead of time they have lost it. Its time to work Republicans STOP complaining. Get your Republican bottom back to work and stop the bickering. Your not in charge and if Republicans done get back in line Republicans will

    March 3, 2009 at 1:34 am |
  12. Neil

    Has anyone noticed that every time Obama "fixes" something –the market plunges? I guess the market analysts and portfolio managers don't really know what is happening. They need to talk to that part time McDonald's worker that asked a question in Florida what is really going on. And for all the people that are cheering the punishing of all of these Wall street investors - have you checked your 401K balances lately? This stock market affects all of us. And "tax the rich"? Like these? Capitol gains tax ( 401K plans ), carbon tax ( tax on gasoline and natural gas), and these "clean projects" - watch your utility bill. We will all pay. When they talk about only taxing over 250K, that is talking about income tax. All of these other taxes will be paid by all of us.

    March 3, 2009 at 1:27 am |
  13. Neil Sagan

    Obama's budget proposes putting >$250,000 earners from 35% back to the marginal tax rate under Clinton 39% and those were good economic times.

    March 3, 2009 at 12:37 am |
  14. Sherry, N. Calif.

    If they think for one minute Robin Hood has come to the poor or to Main St. they are really in LaLa Land STILL! Today the line was longer at the food banks and I heard sleeping in tents in Sacramento has increased. I am not in a soup line, but it does not mean I won't be in one tommorow. I get no break what so ever in a tax relief from the stimulis, housing, banking etc., bailouts! So where do I fit in? I pay my bills, 401K is gone, I have a job, been there and done that with the American home ownership dream, Arnie raised taxes so there goes the extra $13 more on check. Get a grip for all those that are wealthy! We on the bottom make the wheels turn for you-so take care of us or no one will buy from your fancy Macy, Bloomindales, Neiman Marcus stores. Hell I cannot afford Target at this point with inflation running rampant in the food commodities and fuel for car. Our time has come.

    March 3, 2009 at 12:35 am |
  15. Luis

    When Obama mention higher taxes, the market has been in a free fall. Remember Obama, regular folks retirement account depend on how how stable the market is.

    Who the hell raises taxes on an already suffering economy?

    March 3, 2009 at 12:21 am |
  16. Tammy Wilson

    I feel it is wrong for the president to be call robin hood , the people that are making 250.000 or more a year should not complain at for the last eight years the republicains have been spreading the wealth among the wealth. Now who's robbing who? middle class families and the working poor has been paying more tax's while earning low pay so whats wrong with paying a little more money if you are making 250.000 or more.

    March 3, 2009 at 12:10 am |
  17. Patricia

    As many foreign taxi cab driver here in Chicago have commented to me, "even the poor are rich in American." We are just a greedy bunch of people with a sense of entitlement and want more from everyone else while not willing to give to others.

    Like the story tonight about food stamps! I have a good income; however, I still manage to eat on $7 a day. That includes a healthy diet of fish 1-2 times a week, fresh veggies, premium coffe (made at home and put in a thermos) and much more..basically a health diet!

    Doesn't anyone rember the days (or am I really that old) that were told to think of all of the other hungry people in the world. Not a day goes by and I think of the suffering people in Africa (and I am willing to give to them before any of my "poor" neighbors).

    March 3, 2009 at 12:05 am |
  18. Margo Eve

    And here is what I've been frustrated with the entire time. $250k for a family of 4 goes a lot further in some places than it does in others.

    March 2, 2009 at 11:53 pm |
  19. Zyworski

    I think using Republican pretzel logic in reverse would be poetic justice. I would happily accept a 10% Across the board tax increase, regardless of income level. The baseline that should be used for taxes is the Clinton Administration, if he could produce prosperity and surplus at that level then that should be the standard for following administrations.
    I am hoping that we all realize there is a diminishing return to the tax cutting philosophy, and don't repeat the deficit producing mistakes of the past. My bottom line on tax increases is that they should always be of limited duration so that investment capital is not frightened away from our markets.

    March 2, 2009 at 11:47 pm |
  20. Rick Stookey

    Let's stop the squable and go to a simple flat tax 13% nonnegotiable. They say the average income is $45,000.00 at this point I'd be ecstatic with half of that, and hand my $3000.00 tax bill with gratitude for goodness sake.

    March 2, 2009 at 11:45 pm |
  21. Annie Kate

    I don't see anything bad about those who make more than 250M paying more in taxes. Making this much they have access to many more opportunities than those of us who don't make that much and whose dream it is to actually make 100K a year. Their salary enables them to do more, have more, travel more, enjoy themselves more, etc. so why shouldn't they pay more?

    March 2, 2009 at 11:38 pm |