President Obama loves new taxes and he will do just about anything to get the fiscal cliff deal passed while raising taxes the highest amount possible. Obama has talked about a $1.6 trillion tax hike, but has mention little to nothing about actually cutting spending. The serious problem in this country has never been about the government not having enough revenue, it is about both parties creating more government and more programs to give our money away.
One of these days soon the government will run out of money to spend and no matter what they do, they will not have enough coming in to pay for all of their expansion schemes. Until that time, which is probably very close, House Speaker John Boehner says he will say no to any new taxes. We hope that happens, but by the way we see Republicans opting out of their Taxpayer Protection Pledge we aren't sure Boehner will be able to keep his pledge.
Read more from TheBlaze below:
House Speaker John Boehner on Wednesday roundly dismissed a fellow Republicanâ€™s proposal to hold off on the fight to extend tax cuts for the wealthiest Americans, declaring, â€œweâ€™re not raising rates.â€
Rep. Tom Cole (R-Okla.), a former chairman of the National Republican Campaign Committee, urged colleagues privately on Tuesday to ensure tax cuts for 98 percent of taxpayers remain in place before the â€œfiscal cliffâ€ deadline rather than getting bogged down in a battle for the top 2 percent of earners, Politico reported.
Cole called for Republicans to join with President Barack Obama for a quick deal before the year-end deadline that will automatically trigger higher taxes and abrupt spending cuts. Obama, who made letting the George W. Bush-era tax rates expire for the wealthiest Americans a hallmark of his re-election campaign, would essentially be handed a major victory if such a deal came to pass.
Boehner (R-Ohio) said Wednesday he wasnâ€™t having it.
â€œI told Tom earlier in our conference meeting that I disagreed with him,â€ Boehner told reporters after a House GOP Conference meeting, The Hill reported. â€œHeâ€™s a wonderful friend of mine and a great supporter of mine. But raising taxes on the so-called top 2 percent â€“ half of those people are small-business owners that pay their taxes through their personal income tax filing every year. The goal here is to grow the economy and to cut spending.â€
He added, â€œWeâ€™re not going to grow the economy if we raise tax rates on the top two rates. Itâ€™ll hurt small businesses. Itâ€™ll hurt our economy. Thatâ€™s why itâ€™s not the right approach. Weâ€™ll willing to put revenue on the table as long as weâ€™re not raising rates.â€
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