President Obama, citing “the math,” is holding out for higher tax rates on the wealthiest earners. (I’m so glad he has finally discovered the wonders of addition and subtraction, since his annual trillion-dollar deficits have never added up.)
Mr. Obama has said in the past that he would raise rates on the wealthy as a matter of “fairness,” even if this did not raise revenue, so it’s easy to see that he will not accept the Republicans’ offer to raise more revenue (which is more than he has proposed) because it does not raise rates on “the rich.”
This isn’t about “the math,” but about the ideology. It’s class warfare, pure and simple. We deserve better from our president. Then again, we voted for him.