By Tom Quiner

They key to everything, according to the president, is a tax hike on successful small businesses (aka the rich).

He will not budge.

Harry Reid agrees, saying that a tax hike on folks earning more than a quarter million a year is our salvation:

“They’ve got to come [up] with some specific revenue. It’s a simple question, as President [Bill] Clinton said, of arithmetic. Arithmetic. You can’t get from here to there unless you raise the rates. You can’t do it.”

This puts the president (and Senator Reid) at odds with himself who just last year said:

“What we’ve said was, give us $1.2 Trillion in additional revenues.  Which could be accomplished without hiking taxes–uh–tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions, and–uh–engaging in a tax reform process that could have lowered rates generally while broadening the base.”

Last year, Mr. Obama who was running for re-election, agreed with Republicans and Simpson Bowles that tax simplification would generate additional revenues.

Now, the newly re-elected president has changed his tune.

Why?

13 Comments

  1. irishsignora on December 6, 2012 at 6:16 am

    I cannot fathom why these people don’t get that closing tax loopholes is a means of raising revenue. Even my 5 year old daughter understands that. Peace be with you, Mr. Quiner, and may you havea blessed Advent — Kelly

  2. Bob Vance on December 6, 2012 at 10:31 am

    Obama is doing what he said he would do while he was running; rasing taxes on people who make more than $250k a year. Once he gets that, then he will go after the loopholes. How will the Republicans be able to say no, since they are the ones that put the loopholes on the table in the first place.

    Sort of like having your cake and eating it too.

    • quinersdiner on December 6, 2012 at 10:38 am

      Obama also ran saying that the revenues could be raised by eliminating deductions, simplifying the tax code, and NOT raising rates. I guess he’s kind of talking out of both sides of his mouth, which is the point of my post.

      • Bob Vance on December 6, 2012 at 3:45 pm

        He was quite clear about the “rich paying a little more”. He is making the Bush tax cuts permanent for 98% and letting the cuts for the top 2% expire. Technically, on paper, he is not raising taxes.

        • quinersdiner on December 6, 2012 at 3:53 pm

          Here, I disagree with your last statement. Rates will increase for the most productive, who, by the way, are already paying a disproportionate share of the taxes, a share that increased when their marginal tax rate went down.

  3. Paul Sharp on December 6, 2012 at 10:52 am

    So when Obama gets his tax rate increases will the U.S. debt decrease? Hah, dream on! Then the Obama/MSM challenge will be to blame Republicans for our relentlessly increasing debt, with emphasis on blaming potential conservative leaders; e.g. J Bush, Ryan and Rubio.for the continuing increase in the national debt.

    • quinersdiner on December 6, 2012 at 10:57 am

      You and I both know it won’t. Obama is hell-bent on fomenting class warfare. That drives his politics more than ever.

  4. illero on December 6, 2012 at 1:23 pm

    “Now, the newly re-elected president has changed his tune. Why?”

    Could it be as simple as him knowing now that he is in complete control of the message, and therefore no longer feels the need to mask his real feelings and intent on this matter? Clearly, the Republicans are no longer able to effectively counter even the most brazen and laughable lies.

  5. olemike on December 6, 2012 at 2:53 pm

    I think it is important for the Republicans stand firm about spending cuts even if we go over the cliff. Somebody has to stop this guy from ruining the country.

    • quinersdiner on December 6, 2012 at 2:55 pm

      Agreed.

    • Bob Vance on December 6, 2012 at 3:48 pm

      I predict Republicans will cave. Otherwise, they will end up with the majority of the blame and we will lose big in 2014.

  6. Bob Vance on December 6, 2012 at 4:36 pm

    In today’s political environment, it is better to do something bad than to not do anything at all because there are enough people out there who will justify that bad is actually good. If that sounds confusing than I just made my point. 🙂

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