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Thursday, November 22, 2012

Estrich: I Did Not Vote for Obama to Raise My Taxes

Susan Estrich (USC; National Campaign Manager, Dukakis for President), The Mandate To Raise Taxes on the “Rich”:

Within days of winning the election, President Obama announced that his victory gave him a mandate to raise taxes on the "rich."

Come again? This was a two-and-a-half-point election. It reflected a painfully divided electorate. The only mandate I saw was to unite a divided country.

I voted for Obama. ... I did not vote for Obama because I think I am paying too little in taxes.

Like many people I know, I am "rich" by Obama's standards. I pay more taxes, percentage wise, than Mitt Romney and Warren Buffett, because I earn virtually every penny of my income.

I work. And yes, all those deductions that allow the truly rich to not work, or at least to not work all the jobs I do, make me angry.

I am all for closing loopholes. I am all for ending deductions for things I don't even understand. But I am not for putting a low cap on deductions that would make it all but impossible for the charities I support to raise funds. I am not for putting a limit on the mortgage deduction that would mean, as a practical matter, that "middle class" (not rich) people in California would be priced out of the housing market, and the charities I support would not be able to raise what they need to survive.

And frankly, I don't think I'm alone. As a matter of fact, on this one, I don't think 51% of all Americans are to my "left" — if that's how you define the higher tax constituency.

Obama needs to be very careful. Yes, he was re-elected. But so were all those folks who blocked the extension of the Bush tax cuts if they excluded individuals and small businesses who make enough money to qualify as rich — but not enough to send their kids to college, or help their aging parents, or buy a home in a decent neighborhood.

We need to avoid going over the fiscal cliff. But Obama must also avoid the political cliff.

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Comments

For a different viewpoint, see Nicholas Kristof in today's New York Times.

=It’s true that we have a problem with rising entitlement spending, especially in health care. But I also wonder if we’ve reached the end of a failed half-century experiment in ever-lower tax rates for the wealthy.=

http://www.nytimes.com/2012/11/22/opinion/kristof-a-failed-experiment.html?_r=0

Posted by: Bob | Nov 22, 2012 9:27:29 AM

And she is surprised by this? Really?

Abe Carnow

Posted by: Abe Carnow | Nov 22, 2012 10:44:25 AM

What a fool. He said that he would raise taxes, close loop holes etc.. She votes for him and then says I didnt vote for that part of his campaign. You voted for him now you must take the good with the bad. Shoulda thought about it before you vote for him.
Also funny how she doesnt seem to be against raising taxes on the rich, just make sure it is the kind of income she doesn't earn or only for ppl richer than her.
What a hypocrite and fool

Posted by: mike fox | Nov 22, 2012 8:49:42 PM

So why did she vote for him at all?

Posted by: michael livingston | Nov 23, 2012 5:46:44 AM

We need to look at capital gains taxes and carried interest deductions that favor investment income over wage income. That is truly how the deck is stacked against working people.

Posted by: johnqpublic | Nov 23, 2012 6:28:25 AM

I generally lose interest when people argue that the mortgage interest deduction helps the middle class.

Posted by: HTA | Nov 24, 2012 5:04:12 PM

I did not vote for Brack Obama in 2012, Because he is for Socialized Medicine and Bigger Government and higher tazes on the US Citizens. When I had voted for Obama in 2008 then When I watch on the News on March 20, 2012 signing the massive bigh government takeover healthcare systems. "Oh" I was so dame agnry with the facts of signing the his big healthcare takeover. See I told you that I was not going to vote for Obama in 2012 and I stuck with it. I voted for Mitt Romany in 2012. Obama Economic plands takeover is disaters for America.
Salem, NH

Posted by: Jocelyn Gallant | Dec 2, 2012 5:42:06 PM