Kevin Drum would like to remind everyone what the outrage from the top elite is all about:

“I just want everyone to be absolutely clear on what this “narrative of aggrievement” is all about. It’s about Obama’s proposal that the marginal tax rate on income over $400,000 should rise from 35% to 39.6%. That’s your aggrievement. That’s your entitlement. That’s your socialism. That’s your class warfare. An increase in the top marginal tax rate of 4.6 percentage points. Four. Point. Six. This is what America’s most prosperous citizens are up in arms about. This is why Barack Obama is an enemy of capitalism. These are the spiteful shackles he proposes to use to subjugate America’s engines of job creation. It’s the reason America’s wealthiest citizens are so frightened about the future of their country. 4.6 percentage points. Just let that sink in.”

Chrystia Freeland piles on:

“The president is arguing that what works for the top of the United States isn’t working for the middle, and that is a criticism the country’s lionized elite hasn’t heard from its leader in a very long time.”