Obama Tax-raising Against JFK precedent: Hiking Rates Will Lose Money
President Obama claims he wants to raise taxes on "the rich," while Republicans object to the rich paying their fair share. That fits on a bumper sticker, but it is not a fair summary of the dispute. The president wants to raise the marginal tax rates on people earning more than $250,000 per year, while Republicans propose putting a cap on deductions of "the rich."
Rotunda, Ronald D., Obama Tax-raising Against JFK precedent: Hiking Rates Will Lose Money, Washington Times, Dec. 13, 2012, http://www.washingtontimes.com/news/2012/dec/12/obama-tax-raising-against-jfk-precedent/