Where Will Obama Raise Taxes If Re-Elected

US Vice President Joe Biden . Read my lips: taxes only for super one-percenters. (Image credit: AFP/Getty Images via @daylife)

This week’s vice presidential debate showed that if President Barack Obama were to be re-elected in November, he would raise taxes. But only on millionaires instead of those earning $200,000 and above.
Vice President Joe Biden carefully emphasized that the administration was only looking to raise taxes on millionaires. This very likely implies that were the President to keep the White House, he would side with Chuck Schumer’s (D-NY) idea that the income threshold for expiring Bush tax cuts next year to be placed a million dollars in annual income rather than the $200,000 level that the President has been wedded to since 2007.
“Obama is attempting to move to the center on this issue with one month remaining in the race and worries about Mitt Romney’s post-debate momentum,” said Vlad Signorelli, a senior analyst for macro-economic research firm Brettonwoods Research LLC in Parsippany, NJ.
The Democratic strategy Thursday was simple: attempt to represent a multilateralist foreign policy approach, de-emphasize tax increases in general, and promise to maintain Social Security and Medicare programs.
According to recent polls, there is a dead heat between Obama and Mitt Romney.  Real Clear Politics has Romney ahead by an average of one percentage point, making this a clear red state versus blue state election with only a trio of states calling the shots for who will govern starting 2013.