Visiting the Washington Post
Dana Milbank sees a Revolutionist in Obama, and is impressed with his false analogies:
A moment later, the class warrior added: “Either we ask the wealthiest Americans to pay their fair share in taxes, or we’re going to have to ask seniors to pay more for Medicare. . . . Either we gut education and medical research, or we’ve got to reform the tax code so that the most profitable corporations have to give up tax loopholes that other companies don’t get. We can’t afford to do both. This is not class warfare. It’s math.”
Whether his plan to tax the wealthy ever could — or should — become law is not really the point. Obama finally gave his side something to stand for after too much uncertainty. He also showed that he is finally learning to negotiate.
yea, whatever Dana. I thought Obama was a different politician? Hope and Change, remember?
Onward to Eugene Robinson:
“Class warfare!” scream the Republicans, in a voice usually reserved for phrases such as “Run for your lives!”
Spare us the histrionics. The GOP and its upper-crust patrons have been waging an undeclared but devastating war against middle-class, working-class and poor Americans for decades. Now they scream bloody murder at the notion that long-suffering victims might finally hit back.
Accuse the right of histrionics a sentence before you unload a bunch of your own.
President Obama’s proposal to boost taxes for the wealthy by $1.5 trillion over the next decade is a good first step toward reforming a system in which billionaire hedge-fund executives are taxed at a lower rate than are their chauffeurs and private chefs.
Eugene is a tad dense.
Why did Republicans begin squawking about class warfare even before Obama had a chance to announce his proposals? Because by calling on the rich to pay “their fair share” of taxes, the president has hit upon a clear and simple way to illustrate how unequal and unfair our society has become.
How “unfair” has it become?
The very wealthy earn much of their income through dividends and capital gains, which are taxed at 15 percent. This low rate would apply specifically to a wildly successful hedge-fund manager who made, say, $50 million last year. By contrast, an insurance company executive who made $500,000 — just 1 percent of what the hedge-fund manager took home — would pay a top marginal income tax rate of 35 percent. Even a teacher who made just $50,000 — 0.1 percent of the hedge-fund haul — would pay a top marginal rate of 25 percent.
Those eeevvvil hedge fund managers. Hedge fund managers are taxed at the same rate as investors because they are usually set up as partnerships.