Ever since his campaign for the White House, President Obama has said that only the wealthy would face tax hikes on his watch. We can quibble with his definition of wealthy, but the latest Business Week reminds us that under even the most liberal definition, the wealthy will not shoulder all of the burden of proposals such as Obamacare.
In an article headlined ?A Tax Hike By Any Other Name? in the print version of the magazine, Jane Sasseen writes:
As a candidate and President, Barack Obama has had one core message for the middle class: I won’t raise your taxes. The White House has pledged that only the wealthy?families earning more than $250,000?would face a boost in income, capital gains, or other taxes. For the 97% of Americans below that level, no increases are in store.
But as Congress inches closer to forging a massive package of health-care reforms, it’s increasingly clear how difficult it will be to keep that pledge. To pay for the near trillion-dollar health-care system overhaul?not to mention reining in the deficit and funding other ambitious plans Obama has laid out for the years ahead?many outside the White House believe the middle class will not be spared.
Even policies aimed at the ?wealthy? are likely to hit much different targets.
