Economic theory

President Obama has unveiled his new plan for the coming years. He has maintained that the need to serve the poor while taxing the rich is the right way to go. His latest plan includes tax hikes on the wealthy while keeping programs for the poor and those who need medical care going.

Many republicans have already opposed the plan calling it bad for the economy. They want tax cuts instead of tax hikes. Either way, the government still owes trillions of dollars to foreign countries. I guess we will have to see how this turns out.