Now that America's burning hunger for Mitt Romney has overflowed, and he really is the Republican nominee-to-be, the Obama campaign must settle on its anti-Romney strategy. Or more properly, they will reveal to us the anti-Romney strategy they settled on many months ago. One central component will be an argument about taxes, contrasting Obama's approach with the Republican one, and the cornerstone of that argument looks to be the "Buffett Rule." Which is kind of unfortunate. The Buffett Rule is, I'm quite sure, good politics. Believe you me, the Obama campaign wouldn't be going whole-hog on it if they hadn't already polled and focus-grouped it within an inch of its life. What it isn't is particularly good policy.
Democrats are doing everything they can to make the Buffett Rule as the predominant issue of the week before it is subjected to a Senate vote on Tax Day. The rule—named after Warren Buffett's frequent refrain that his secretary pays a higher effective tax rate than the multi-billionaire investor—would force multimillionaires to give up some of their tax breaks until they pay at least a minimum rate of 30 percent. Obama is headed to Florida tomorrow to promote the bill, while his campaign is highlighting the rule as a campaign issue in contrast to Mitt Romney's tax disclosures he released earlier this year, which revealed that the probable Republican candidate paid taxes of just 13.9 percent on his $21.7 million in income in 2010.
