Mayor Bloomberg Hits Obama For Buffett Rule 'Theatrics,' Calls For Raising Taxes On Everybody


New York City Mayor Michael Bloomberg told NBC News’ David Gregory that he is troubled by President Barack Obama’s rhetoric on the so-called ‘Buffet Rule.’

On Meet the Press, Bloomberg criticised Obama for theatrics, pushing a tax law that would by the administration’s own admission, impact just a few Americans.

“You can’t define what is middle class, what is wealthy, what is poor,” he said. “It’s not fair to say that wealthy people don’t pay their fair share — they pay a higher rater than those who make less.”

The billionaire mayor, who was supportive of Obama’s jobs plan just a few weeks ago, is the latest defection from Obama on the tax plan — which has drawn tepid support even from Democrats.

“I would suggest raising taxes on everybody — about 2 or 3 per cent on everybody,” he said, adding that if the White House wants to cut tax breaks, it also must cut entitlement spending. “Unless we do all of these things, it just won’t work,” he said.

Bloomberg was sharply critical of Washington partisanship over the threat of yet another government shutdown later this week. “It spooked us a month ago, it’s gonna spook us now…No one has any confidence,” he said.

He added that he was unlikely to endorse any candidate for president, saying “I’ve got to work with whoever wins.”

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