About the Obama Administration’s New Tax Proposals

by Pejman Yousefzadeh on September 19, 2011

I really wish that people would stop taking them seriously; everyone knows that there isn’t a candle’s chance in a cyclone of them being implemented so long as there is a Republican House to get in the way of their enactment. The real purpose behind tax hikes for the rich–and proposed new tax rates for millionaires–is to create a class warfare environment that will help the President’s re-election campaign recapture the Democratic base, thus allowing the President the political freedom to go after the moderate and independent votes he so needs to get four more years in the White House.

Given the entirely political nature of these proposals–along with the startling lack of urgency on the part of Democrats when it comes to job creation, neither the Administration, nor its Congressional Democratic allies should be taken all that seriously by those looking for innovative policy proposals designed to encourage fiscal sanity and job growth. The port side is tremendously motivated to try to do well in the upcoming election cycle. There is, however, no intellectual energy whatsoever on that side when it comes to actually solving the country’s problems.

UPDATE: The argument that the rich somehow don’t pay their fair share is pretty much shredded by David Boaz.

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