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RCP | There’s no mandate to raise taxes on the "rich" says … Susan Estrich





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 percent 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.

More.



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