Wanted: analysts who can analyze
The irrepressible Ezra Klein—I mean that in a derogatory way; think of an irrepressible Charles Barkley at an all-you-can-eat seafood spread—has a piece at Bloomberg (which op-ed wise, tends to be a reflection of its nanny state founder). The thesis? That raising taxes can be a political winner for Barry Oh!
…polls consistently show that increasing taxes on the wealthy is hugely popular. In the same Gallup poll, 62 percent of respondents said “upper-income people” were paying too little in taxes. In a CNN/ORC International poll, also conducted in April, 68 percent of Americans agreed that “the present tax system benefits the rich and is unfair to the ordinary working man or woman” and 72 percent said they support changing the tax code “so that people who make more than one million dollars a year will pay at least 30 percent of their income in taxes.”
What Klein ignores is the fundamental issue that should be driving discussions on tax rates: government spending. How big an issue is spending versus taxes? Charles Barkley big. Consider the nonsensical Buffett Rule of a few months ago:
[Obama’s] Buffett [tax] Rule would cover just 0.7% of all of Obama’s debt and .1% of Obama’s spending.
Instead the Klein focus is on protecting Obama, attempting to offer political advice to the Administration, and improve Obama’s re-election prospects while the nation continues towards a fiscal cliff based largely on one factor: the government spends way too much.