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Obama in 2011: We Can Achieve $1.2 Trillion in New Revenues Without Raising Tax Rates

marilynwilmoth15 Wrote: Dec 05, 2012 11:36 PM

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Obama in 2011: We Can Achieve $1.2 Trillion in New Revenues Without Raising Tax Rates

Three quotes to whet your appetite, followed by the punch line from the president. House Republicans' latest "fiscal cliff" resolution package -- originally proposed by Democrat Erskine Bowles -- includes $800 Billion in new federal revenues, while lowering tax rates across the board. Democrats instantly rejected the idea, making a heavy play about "the math" not adding up. They've repeatedly contended that Republicans' plan to expand the tax base by closing loopholes, eliminating or capping deductions, and limiting credits cannot hit their projected revenue target. (1) White House Spokesman Jay Carney: "