Obama’s Debt Reduction Plan: Tax The Rich
WASHINGTON (AP) — Drawing clear battle lines for next year’s elections, a combative President Barack Obama on Monday demanded that the richest Americans pay higher taxes to help cut soaring U.S. deficits by more than $3 trillion. He promised to veto any effort by congressional Republican to cut Medicare benefits for the elderly without raising taxes as well.
“This is not class warfare. It’s math,” Obama declared, anticipating Republican criticism, which was quick in coming.
News flash for the AP and the Obama White House… it ain’t just Republicans who think it’s class warfare.
Former Hillary Clinton advisor and HuffPo author Mark Penn also thinks it is (emphasis added):
America wants to see the president focused on stimulating jobs and innovation, not on raising taxes in a near recession. The president could be out there with tax reform that promotes America’s greatest asset — the country’s hard working and ever successful professionals — and yet raises funds by closing the gap on taxes on capital. He could have tax reform that righted the balance between capital and wage income without opening up class warfare. And he could be moving forward on immigration reform, on trade deals, on new policies and programs that put America at the frontier of new technologies on energy and pharmaceuticals.
Instead, the president has wandered into the thicket of class warfare that will only compound the difficulties before his climb to re-election.
Obama’s definitely heading towards history again… the drubbing he seems to be heading for in 2012 could surpass even Walter Mondale’s poor showing in 1984, since he seems to be intent on splitting the Democratic party in two, with the hyper-lefties in one camp and the more reasonable (one can’t call them conservative or even moderate, because even the moderates are way out in left field) Democrats in the other. Splitting your own party isn’t a good path to winning an election–just ask John McCain.