President Obama's stated objective to reduce inequality, as laid out in public addresses and budget plans, is a noble one. The growing income gap – not only between rich and poor, but also between the ultra-affluent and the middle class – poses a threat both to the economy and the long-term viability of our republic.
But ironically, what seems to be the administration's core proposal, ratcheting up the burden on "rich" taxpayers earning over $250,000, could have unintended consequences. For one thing, it would place undue stress on the very places that have been Obama's strongest supports, while providing an unintended boost to those regions that most oppose him. read more »