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Thursday, September 29, 2011

The Obama Tax Plan: A Test For America

Can democracy, one top political scientist asked last week, 'function effectively in a society marked by vast economic inequality'? The fate of the modest new White House bid to tax our rich may tell the tale.

Most Presidents of the United States end up with a catchphrase attached to their tenure, a memorable line that defines them. The buck stops here. Ask not what your country can do for you. Tear down this wall! President Obama last week may have muttered his.

“This is not class warfare,” the President declared last Monday as he unveiled a new set of proposals for hiking taxes on wealthy taxpayers. “It’s math.”

GOP leaders on Capitol Hill appear to have done the math — on what the White House proposals would mean for them personally — and they don’t much like what they see.

1 comment:

Anonymous said...

Again they make the claim that tax breaks are to blame. Every bit of data that I have ever seen indicates the opposite. It is most definitely a spending problem. We cannot tax our way out of this deficit spending. That math simply doesn't add up.