With President Barack Obama running very optimistically for re-election, watch out for what he says, and may do, on taxes if he is re-elected in November.
You may be sure Obama is not proposing to raise taxes on "you." But he has gone on the offensive, proposing taxes on "somebody else," the "rich."
In a rousing speech Tuesday to about 5,000 of his supporters in Florida, an important swing state, Obama told an audience in Boca Raton:
"Look, I want folks to get rich in this country, I think it's wonderful when people are successful. That's part of the American dream."
Then he said: "But understand, the share of our national income going to the top 1 percent has climbed to levels we haven't seen since the 1920s.
"The folks who are benefiting from this are paying taxes at one of the lowest rates in 50 years."
So Obama seems to be eager to raise taxes on some taxpayers. It's rare for any presidential candidate to run for election by proposing tax increases. But Obama seems rather confident these days. He says "nobody loves paying taxes," but he's certainly not supporting any kind of tax relief.
Republican Mitt Romney responded: "President Obama is the first president in history to openly campaign for re-election on a platform of higher taxes.
"He has already raised taxes on millions of Americans, but he won't stop there. He wants to raise taxes on millions more by taxing small businesses and job creators."
Are you encouraged by Obama's obvious optimism and his high-tax policy?
Do you believe you would be better off with Obama raising taxes on some people? Or do you believe that Romney is more reasonable, saying that any tax increases would be "job killing" and a form of class warfare?
How do you believe the 2012 presidential election will affect your personal taxes and our economy over the next four years?