This is the real radicalism of our redistributor-in-chief. Instead of stopping his record spending spree, Obama wants higher tax revenues on everyone. Obama will risk going over the fiscal cliff which will raise taxes on everyone. This will make Obama happy because the more taxes he gets, the more he will spend.
I hope the Republicans call his bluff and jump over the cliff with him. That way everyone will feel the pain of Obamanomics, not just those of us who pay taxes. It also destroys the liberal myth that the Bush tax cuts only benefited the rich.
From ABC News:
President Obama’s lead negotiator in the “fiscal cliff” talks said the administration is “absolutely” willing to allow the package of deep automatic spending cuts and across-the-board tax hikes to take effect Jan. 1, unless Republicans drop their opposition to higher income tax rates on the wealthy.
Treasury Secretary Timothy Geithner said in an interview with CNBC that both sides are “making a little bit of progress” toward a deal to avert the “cliff” but remain stuck on Obama’s desired rate increase for the top U.S. income-earners.
Wouldn’t be in this position had Obama fulfilled his promise to cut the deficit in half. The liberal media never mentions this fact.
“There’s no prospect for an agreement that doesn’t involve those rates going up on the top two percent of the wealthiest,” Geithner said.