Bloomberg Bashes Obama Tax Plan

Republicans aren’t the only candidates pandering to their bases this season, New York City mayor Michael Bloomberg writes in a Wall Street Journal op-ed—Obama’s doing the same thing. Bloomberg, the billionaire known for his centrist views, hits the president for embracing the “economic populism” of Occupy Wall Street and says his plan to raise taxes on the wealthiest Americans would raise only $1.1 billion next year. What’s worse, Bloomberg, says, the proposal is based on politics instead of sound policy. Of course, he admits, “I don’t want to pay more in taxes.”