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1/5/2012 Obama: More Tax Increases Possible to Reduce the Deficit

 
Nostril Domus
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01/05/2013 09:36 PM

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1/5/2012 Obama: More Tax Increases Possible to Reduce the Deficit
President Barack Obama said he’s willing to consider more spending cuts to lower the deficit, as long as they’re coupled with more tax reforms.

Using Saturday’s weekly address to praise Congress’ last-minute deal to avert the “fiscal cliff,” Obama said it’s “just one more step” in the larger effort to boost the economy and reduce federal deficits. He said this week’s deal raised taxes on the wealthiest Americans while preventing a middle-class tax hike that could have thrown the country back into recession.

“I believe we can find more places to cut spending without shortchanging things like education, job training, research and technology all which are critical to our prosperity in a 21st century economy,” Obama said, speaking from Hawaii where he is finishing his holiday vacation with his family. “But spending cuts must be balanced with more reforms to our tax code. The wealthiest individuals and the biggest corporations shouldn’t be able to take advantage of loopholes and deductions that aren’t available to most Americans.”

Obama fired a warning shot to members of Congress over what’s shaping up to be the next big partisan battle: the debt ceiling, which must be dealt with by the end of February.


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Anonymous Coward
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01/05/2013 11:17 PM
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Re: 1/5/2012 Obama: More Tax Increases Possible to Reduce the Deficit
I was wondering what to do with the change I had left in my pocket.
Anonymous Coward
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01/05/2013 11:19 PM
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Re: 1/5/2012 Obama: More Tax Increases Possible to Reduce the Deficit
say goodbye to home mortgage interest deduction.

that should really help the housing market.
Nostril Domus (OP)

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01/06/2013 12:01 AM

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Re: 1/5/2012 Obama: More Tax Increases Possible to Reduce the Deficit
bump
Anonymous Coward
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01/06/2013 12:17 AM
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Re: 1/5/2012 Obama: More Tax Increases Possible to Reduce the Deficit
Bunch of liars. They have said that same thing for the past 50 years. They increase the taxes and then increase the spending. There are never any cuts to Government....NEVER. Show me one department in government that been shut down. Show me one department in government that has ever met its budget and then got less money the next year. The rward is for these departments to spend all their budget and then more so they can demand more money the next year. There are no incentives in place that reward spending less. All the incentives are for spending more.

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