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.