Cue the conservative handwringing.
President Obama reiterated today that any deal made to avoid the so-called fiscal cliff must include tax increases on the wealthiest Americans.
“What I’m going to need…is an acknowledgment that folks like me can pay a little bit higher rate,” the president said, adding that he’s also willing to entertain entitlement reforms.
The White House and House Republicans have presented competing plans to bring down the debt, arguing the government must close loopholes to raise revenue, but not raise taxes on the country’s top earners. Read more at Washington Post.
{Andy Heller-Matzav.com Newscenter}
Hire taxes for wealthier Americans is something the Republicans should just give in on.
They can’t raise the minimum age for medicare. That will be terrible for most people….
Fire the “czars” and the artificial agencies of ‘Obamascare’; cancel union privileges of civil service employment in federal jobs. That will reduce the budget excess to manageable proportions. Figure agency budgets from ZERO; make them justify every element of their budget needs.
Then, if we can get Barack Hussein Obama to stop throwing our tax money away on pleasure jaunts for him and his family, we can begin to breathe a bit easily.
In case anyone here is old enough to remember 🙂 the tax rates under Pres. Eisenhower were far higher than anything Pres. Obama is asking. Yet, somehow, the US survived and prospered – something we haven’t been doing much of for the past ten years, if you don’t count the phoney money people were throwing around during the housing boom.
Taxes on the rich were higher in the ’50s, but that didn’t prevent them from investing and creating jobs. CEO pay was also a fraction of what it is now. It’s Wall Street that’s broken, not the federal government.
Paul Revere doesn’t know much about the federal budget. Most of it is Medicare, Medicaid, Social Security, and Defense. If you eliminated every single non-defense discretionary spending item — meaning no border guards and allowing anyone entry into the US; releasing everyone from prison; abolishing the courts, the weather service, the FBI, the CIA, the DEA, and the Coast Guard; no longer issuing passports so Americans would no longer be able to travel outside the country; firing all the air traffic controllers so you would not be able to fly anywhere; and abolishing every other program you would STILL have a multiple hundred billion dollar a year deficit. We have to raise taxes and the wealthy are the only people left who can afford to pay more.