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

oldervoter68 Wrote: Dec 05, 2012 8:43 PM

Ah, the the dreaded Republicans still control the House, so some compromise will be in order for anything to get done. And now that the Rs repeat his words about tax reform, etc, he has to be "again" it just because that's the way things are done now. How we long for the days of Clinton and Gringrich, when compromise was possible and led to some significant economic growth in the private sector.

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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: "