In Colorado and New York, voters on Tuesday will be deciding on one of the most divisive issues of our time: taxing the wealthy.
In New York, mayoral candidate Bill de Blasio is leading polls with a platform centered on hiking taxes on the city's wealthy—already among the highest taxed in the country.
"I think it's time that that they give us a little more so we can make the kind of investments we need for our future," De Blasio told reporters last month.
In Colorado, voters are set to decide on Amendment 66, which would replace a 4.63 percent flat tax with a tax of 5 percent for income up to $75,000 and 5.9 percent on income above $75,000. The added revenue from the tax would be used for education.
But it's the call to raise the federal taxes on the rich that seems to be rising in the media. Billionaire Bill Gross is the latest— and loudest—to weigh in.
(Read more: Wealthy investors spooked by debt crisis)
In his latest Investment Outlook, titled "Scrooge McDucks," the outspoken Pimco co-founder said that with tax reform back on the radar, the focus should be on taxing the wealthy. Yes, he knows the rich work hard. And yes, he knows they pay an outsized share of the taxes.
But Gross said the wealthy really didn't earn all of their wealth. They are lucky beneficiaries of a decades-long credit boom that poured money into the hands of the financially skilled.
"You did not, as President Obama averred, 'build that,' you did not create that wave," he wrote. "You rode it. And now it's time to kick out and share some of your good fortune by paying higher taxes or reforming them to favor economic growth and labor, as opposed to corporate profits and individual gazillions."