It was the labor movement that helped secure so much of what we take for granted today. The 40-hour work week, the minimum wage, family leave, health insurance, Social Security, Medicare, retirement plans. The cornerstones of the middle-class security all bear the union label.
I will cut taxes - cut taxes - for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.
We can't have special interests sitting shotgun. We gotta have middle class families up in front. We don't mind the Republicans joining us. They can come for the ride, but they gotta sit in back.
In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again.
I'm a warrior for the middle class.
We're going to have to invest in the American people again, in tax cuts for the middle class, in health care for all Americans, and college for every young person who wants to go. In businesses that can create the new energy economy of the future. In policies that will lift wages and will grow our middle class. These are the policies I have fought for my entire career.
Every single thing I`ve done, from the Affordable Care Act to pushing to raise the minimum wage, to making sure that young people are able to go to college and get good job training, to what we`re pushing now in terms of sick paid leave,everything I do has been focused on how do we make sure the middle class is getting a fair deal.
Now, because he knows that his economic theories don't work, he's been spending these last few days calling me every name in the book. Lately he's called me a socialist for wanting to roll-back the Bush tax cuts for the wealthiest Americans so we can finally give tax relief to the middle class. I don't know what's next. By the end of the week he'll be accusing me of being a secret communist because I shared my toys in kindergarten. I shared my peanut butter and jelly sandwich.
Just as black anger often proved counterproductive, so have these white resentments distracted attention from the real culprits of the middle class squeeze - a corporate culture rife with inside dealing, questionable accounting practices, and short-term greed.
This kind of gaping inequality gives lie to the promise that’s at the very heart of America: that this is a place where you can make it if you try. We tell people - we tell our kids - that in this country, even if you’re born with nothing, work hard and you can get into the middle class. We tell them that your children will have a chance to do even better than you do. That’s why immigrants from around the world historically have flocked to our shores.
This kind of inequality - a level that we haven’t seen since the Great Depression - hurts us all. When middle-class families can no longer afford to buy the goods and services that businesses are selling...it drags down the entire economy from top to bottom. America was built on the idea of broad-based prosperity... That’s why a CEO like Henry Ford made it his mission to pay his workers enough so that they could buy the cars he made. It’s also why a recent study showed that countries with less inequality tend to have stronger and steadier economic growth over the long run.
You can choose a future where more Americans have the chance to gain the skills they need to compete, no matter how old they are or how much money they have. Education was the gateway to opportunity for me. It was the gateway for Michelle. And now more than ever, it is the gateway to a middle-class life.
In the absence of sound oversight,responsible businesses are forced to compete against unscrupulous and underhanded businesses, who are unencumbered by any restrictions on activities that might harm the environment, or take advantage of middle-class families, or threaten to bring down the entire financial system.
So I'm not proposing anything radical. I just believe that anybody making over $250,000 a year should go back to the income tax rates we were paying under Bill Clinton. Back when our economy created nearly 23 million new jobs, the biggest budget surplus in history, and plenty of millionaires to boot. ... At the same time, most people agree that we should not raise taxes on middle-class families or small businesses -- not when so many folks are just trying to get by.
There is a theory that basically says that we can shred regulations and consumer protections and give more and more to the most, and somehow prosperity will trickle down. It hasn't worked. And I think that the fundamentals of the economy have to be measured by whether or not the middle class is getting a fair shake.
I put forward a budget of what I called "middle-class economics" that continues to be fiscally prudent but makes necessary investments for us to continue the economic momentum and job growth.
Our job as Americans is to restore that basic bargain that says, if you work hard, if you're willing to meet your responsibilities, you can get ahead. You can get ahead. Doesn't matter what you look like, doesn't matter where you come from. Our middle class, when it's growing, when it's thriving, when there are ladders of opportunity for people to do a little bit better each year and then make sure that their kids are doing even better than them, that's the American dream. That's what we got to fight for. That has to be the north star that guides everything we do.
In five days, you can turn the page on policies that put greed and irresponsibility on Wall Street before the hard work and sacrifice of folks on Main Street. In five days, you can choose policies that invest in our middle class, and create new jobs, and grow this economy, so that everyone has a chance to succeed, not just the CEO, but the secretary and janitor, not just the factory owner, but the men and women on the factory floor.
What can I do to make sure that middle-class families are feeling more secure, that more young people are able to access opportunity, that we are safe, that we are working with our international partners to try to create more order at a time when there's a lot of chaos? How do we deal with terrorism in a way that's consistent with our values? As long as I stay focused on those north stars, then I tend not to get too rattled.
This is the defining issue of our time. This is a make-or-break moment for the middle class and for all those who are fighting to get into the middle class.
I refuse to accept any approach that isn't balanced. I'm not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000, aren't asked to pay a dime more in taxes.
I believe that the free enterprise system is the greatest engine of prosperity the world's ever known. I believe in self-reliance and individual initiative and risk-takers being rewarded. But I also believe that everybody should have a fair shot and everybody should do their fair share and everybody should play by the same rules, because that's how our economy's grown. That's how we built the world's greatest middle class.
I'll go anywhere and I'll do whatever it takes to get this done. It's too important for Washington to screw this up. Now's the time for us to work on what we all agree to, which is let's keep middle-class taxes low. That's what our economy needs. That's what the American people deserve.
We are going through historic times, and my vision is a world, first of all, in which America continues to be that one indispensable nation. Because we're taking care of our own people, because our economy is strong and our middle class is growing, and people feel like hard work is rewarded, and we are continuing to expand opportunity and diversity and tolerance and respect.
The Asia Pacific is home to nearly half the world's population, a growing middle class and holds so much opportunity for us all.
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