WASHINGTON - President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials.
You just can't make this stuff up. On Monday, President Obama is going to introduce a new tax on millionaires. Monday happens to be Talk Like a Pirate Day, so Obama will mark this informal holiday by introducing some more federal piracy in the form of higher taxes on high income earners. In short, he'll talk like a pirate. Sure, it's a targeted bit of piracy--targeted at those most able to pay--but the date chosen for the roll-out adds a bit of irony that could easily have been avoided for his latest populist proscription. It's yet another facepalm moment for the most inept administration in living memory.