Will Obama Become A Progressive On Tax Policy After The 2012 Election?
This headline, Under Obama, Taxes Are Lower Than Ever, made me wonder if President Obama has plans to be more progressive on tax policy after the 2012 election. Defenders of The Deal have argued that President Obama's motivation for agreeing to The Deal was political, which means to me concerns about getting reelected in 2012. Let's concede the point for a moment, and even pretend that that easily predictable dire consequences (slashing of government spending for the next 2 years) are a fair cost for Obama's reelection, the question for me is will Obama, even if he is willing and determined, be able to raise taxes after 2012?
Strictly speaking, if Obama wins, he will have the clear power to raise taxes - by letting the current tax cuts expire. Moreover, Obama will not be facing any more elections after 2012,so he should be able to make a non-political decision. Will he? I'd like to think yes, but I can't say I am convinced. Time will tell.
Speaking for me only
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