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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWho was the last president to raise taxes on the one percent?
I forgot who it was but it did lead to the longest economic expansion in the history of the republic.
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Who was the last president to raise taxes on the one percent? (Original Post)
DemocratSinceBirth
Mar 2015
OP
Krugman: Why the One Percent Hates Obama - Their tax rates back to pre-Reagan levels
pampango
Mar 2015
#5
Thank you, people here are not getting the point of the OP< the answer is OBAMA
NoJusticeNoPeace
Mar 2015
#7
NoJusticeNoPeace
(5,018 posts)1. He just gave an awesome speech in Selma
BeyondGeography
(39,380 posts)6. Yeah, but, he's no Bill Clinton
I guess...
Response to DemocratSinceBirth (Original post)
Name removed Message auto-removed
valerief
(53,235 posts)4. A Democratic Congress did it and he signed it. 1990. nt
valerief
(53,235 posts)3. If only a president COULD raise taxes without Congress voting them first. nt
pampango
(24,692 posts)5. Krugman: Why the One Percent Hates Obama - Their tax rates back to pre-Reagan levels
A peculiar aspect of the Obama years has been the disconnect between the rage of Obamas enemies and the yawns of his sort-of allies. The right denounces financial reform as a vast government takeover and lobbies fiercely against it while the left dismisses reform as symbols without substance. The right accuses Obama of being a socialist stealing the money of hard-working billionaires, while the left dismisses him as having done nothing to address inequality.
On all these issues, the truth is that Obama has done far more than he gets credit for not everything youd want, to be sure, or even most of what should be done, but enough so that the right has reason to be furious.
The latest case in point: taxes on the one percent. I keep hearing that Obama has done nothing to make the one percent pay more; the Congressional Budget Office does not agree:
According to CBO, the effective tax rate on the one percent reflecting the end of the Bush tax cuts at the top end, plus additional taxes associated with Obamacare is now back to pre-Reagan levels. You could argue that we should have raised taxes at the top much more, to lean against the widening of market inequality, and I would agree. But its still a much bigger change than I think anyone on the left seems to realize.
http://krugman.blogs.nytimes.com/2014/11/13/why-the-one-percent-hates-obama/?_r=0
On all these issues, the truth is that Obama has done far more than he gets credit for not everything youd want, to be sure, or even most of what should be done, but enough so that the right has reason to be furious.
The latest case in point: taxes on the one percent. I keep hearing that Obama has done nothing to make the one percent pay more; the Congressional Budget Office does not agree:
According to CBO, the effective tax rate on the one percent reflecting the end of the Bush tax cuts at the top end, plus additional taxes associated with Obamacare is now back to pre-Reagan levels. You could argue that we should have raised taxes at the top much more, to lean against the widening of market inequality, and I would agree. But its still a much bigger change than I think anyone on the left seems to realize.
http://krugman.blogs.nytimes.com/2014/11/13/why-the-one-percent-hates-obama/?_r=0
NoJusticeNoPeace
(5,018 posts)7. Thank you, people here are not getting the point of the OP< the answer is OBAMA