The Shocking Data of Class Warfare
Greg Mankiw shares evidence from the Tax Policy Center that shows that President Obama’s proposed tax policy is different from Clinton’s.
Compared to President Clinton, President Obama would cut the effective tax rate by about 2 percentage points for the bottom 99 percent of the population and raise the effective tax rate by about 2 percentage points for the top 1 percent of the population.
You can agree or disagree with that policy choice. But the facts are clear. President Obama’s policy preferences are more focused on income redistribution (aka “class warfare”) than President Clinton’s tax policy ever was.
Get that? For all those seeking evidence of President Obama’s radical plan to turn America into a socialist dystopia, now you have it. Compared to Clinton-era rates, he wants to cut taxes by 2% for the bottom 99% and raise taxes by 2% for only the very richest.
It’s disappointing to see even the establishment candidates (Romney) and their advisors (Mankiw) perpetuate the “class warfare” smear. But, I’m not sure if I’m more amused or disturbed to read what they consider the evidence for it.