President Obama is called a lot of names for daring to remove the Bush Era tax cuts for the wealthy. That’s not surprising; even Ronald Reagan would be criticized these days. Reagan’s memory would run an excellent campaign. Some of his actions would be heckled by the audience. Greg Mitchell takes a look at Obama’s proposals:
Ever since Obama redoubled his push to hike taxes on the rich, conservatives have been ridiculing Obama’s invocations of fairness, insisting that the rich are already paying a rising share of the overall tax burden, and accusing him of pushing for mass wealth redistribution in the quest for equality imposed from above. He has been labeled “a staunch believer in the redistributionist state,” a believer in “government-enforced equality,” and even a “socialist.”
So let’s look at how Obama’s tax policies would really impact the wealthy if they were enacted — and how those effects would fit into the bigger picture of income disparity in America.
Mitchell provides charts and commentary that leads to this conclusion:
Indeed, if Obama’s proposal is intended as a huge redistributionist scheme designed to level our society by bringing about government-imposed equality, then it can already been seen as a pretty massive failure.