In 2008, on the campaign trail amid a global financial collapse, Barack Obama’s stated desire to “spread the wealth around” clanged like a dropped wrench and made a media star of Joe the Plumber.
This week, in a stalled recovery, that very same sentiment made for one of his more rousing campaign lines, shamelessly tailor-made for an economic ballot question against the arch-capitalist Republican Mitt Romney.
In calling for a hike in income tax to 30% on those who make more than $1-million a year, Mr. Obama told Florida university students this week that, in America, “prosperity has never trickled down from the wealthy few. Prosperity has always come from the bottom up.”
That the rich should contribute more than their current share to the common good is a proposal with popularity. From Paris and London to Nova Scotia and Alberta, “tax the rich” has become a dominant theme…
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