Barack Obama argues that the last election gave him a mandate to raise taxes on the rich. Put another way, he is arguing that 52% of the people voted to raise taxes on 2%.
I particularly like his illustration:
Let’s take a look at two propositions [in California]:
- Prop 30, which propose to raise taxes on on the rich to help close the deficit (there was a token 0.25% sales tax increase for cover, but everyone knew it to be a tax on the rich).
- Prop 39, which was a broad-based income tax increase which raised taxes on most everyone (or at least on the 50% or so who pay income taxes).
So, let’s look at the results:
- Raise taxes on only the very rich: PASS
- Raise taxes on everyone (including me): FAIL
Wolves and lunch and lambs people. Wolves, lunch and lambs.