Bloomberg Says Obama Should Raise Taxes On The Middle Class [Video]

Mayor Mike Bloomberg appeared on “Morning Joe” today and reiterated his call from yesterday for a broad-based tax hike across all income levels, one that would be achieved by letting the Bush tax cuts expire.

The reason Mr. Bloomberg doesn’t favor a tax on just upper income earners–as most Democrats suggest–is because, as he says, “It’s fair. I don’t like class warfare. Everybody pays taxes, we have   graduated income tax so that those who have more, pay more even pay more as a percentage but everybody is in this country together. They all benefit and they should all understand it’s their money.”

The mayor also thinks that President Obama would benefit politically from it.

And the other reason to get rid of the Bush-era tax cuts is politically it’s the only thing that has any chance of getting done. Congress will never vote to do it but the president, all he’s got to do is veto any new bill and a have a handful of people supporting him so his veto doesn’t get overridden, but the president could do this. And I happen to think its great politics for the president. Its time for the president to stand up and say,  ‘Look this is what I believe. This is the only way we are going to get out of this problem and I am going to do it whether its good politics or not.’ And I think he would be very well received for doing that.

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