President Obama just wrapped up his first campaign speech since the election on November 6 at a toy manufacturing plant in Hatfield, Pennsylvania. It was like a step back in time. We heard more about clean energy and a “balanced” approach to making the fiscal cliff and deficit problem...worse. Obama touted his reelection, reiterating what he sees as a mandate to raise taxes on “the wealthiest” Americans.
“I want to bring down our deficits in a balanced and responsible way,” Obama said.
As usual, Obama slammed Congress as he has since 2010 for “doing nothing” and specifically asked House Republicans to green light his new $50 billion spending plan, $1.6 trillion tax hike and unlimited debt proposal saying, “It’s not that complicated.”
“All of us are going to have to get out of our comfort zones to make that happen,”
Obama said raising taxes on the middle class would be like handing them a lump of coal for Christmas and warned against holding tax cuts hostage. Unless Congress and the White House can reach a deal, everyone’s taxes will increase by at least $2000 on January 1.
“I don’t think it’s appropriate for Republicans to hold middle class tax cuts hostage,” he said.
Obama framed his argument as cutting taxes for the middle class when in reality if Congress reaches a deal, middle class tax rates will remain the same. The only two options on the table are tax increases or keeping the current rates, not tax cuts.
President Obama’s speech today was part of a larger campaign to sell his new tax plan to the country because after all, despite the election ending nearly a month ago, he just couldn’t help himself.
“I’m already missing spending time on the campaign trail,” he said.
And we thought we were moving forward.