Obama administration takes tough line with GOP in fiscal cliff as Obama talks with Boehner

  • Article by: DAVID ESPO , Associated Press
  • Updated: December 6, 2012 - 5:26 AM
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rtwall59Dec. 5, 1211:20 AM

Worse than Jimmy Carter! Let's spend some more money we don't have. Per BO "financed on a credit card from the Bank of China, it's unpatriotic". What a joke, that we have to live with this guy for another 4 years.

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muggsh2oDec. 5, 1211:27 AM

Can someone tell me why the president is talking to everyone but the congressional leaders? A true leader would be in closed door meetings to figure this out instead of the constant campaigning. Can someone please tell the president its over, he won, and that he doesn't have to campaign anymore.

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g5thistimeDec. 5, 1211:32 AM

BHO will go down as the worst president in the history of the USA. WE need to cut spending. Don't call my "bluff".

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ronpaulbabyDec. 5, 1211:40 AM

Obama quote circa 2011: "Give us $1.2 trillion in additional revenues, which could be accomplished without hiking tax rates by eliminating loopholes, eliminating some deductions."

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muskiedogDec. 5, 1211:41 AM

• People are saying go ahead it is Ok to raise taxes, Clinton did it and it worked out OK. I ask this question. Has a tax increase along with an ever increasing entitlement program happen before? All you have to look at is the 1937-1938 recession; we see it was a double dip recession caused by a reckless tax increase to pay for the huge entitlement programs put in place at the time sound familiar? But that is not modern history let’s get back to Clinton. The myth of Clintons tax increase being good for the country is now a central part of liberal Democratic folklore.

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muskiedogDec. 5, 1211:41 AM

Clinton’s higher tax rates led to and were the primary cause of the dot com boom collapse, creating the recession at the very end of Clinton’s first term. The 1993 Clinton tax increase raised the top two income tax rates to 36% and 39.6%, with the top rate hitting joint returns with incomes above $250,000. In addition, it removed the cap on the 2.9% Medicare payroll tax, raised the corporate tax rate to 35% from 34%, increased the taxable portion of Social Security benefits, and imposed a 4.3 cent per gallon increase in transportation fuel taxes. If these tax increases were good for the middle class, then they should have been popular, for the economy would have done well, the opposite is what happen.

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muskiedogDec. 5, 1211:41 AM

In the 1994 elections, the Democratic Party suffered historic losses. The Republican Party gained 54 seats in the House and 8 seats in the Senate to win control of both the House and the Senate for the first time since 1952. Speaking at a fund raiser in 1995, President Clinton said: “Probably there are people in this room still mad at me at that budget because you think I raised your taxes too much. It might surprise you to know that I think I raised them too much, too.” So what happened in Clintons second term? In 1995 he flip-flopped on taxes, President Clinton took the first step toward a successful campaign for re-election and a shift in policy that produced the economic boom that occurred during his second term. In 1997, Clinton signed a reduction in the capital gains tax rate to 20% from 28%, Raised the death tax exemption to $1 million from $600,000, he kept annual growth in federal spending below 3%, The 15% Tax bracket was lowered to 10%. The Clinton Administration also maintained its policy of a strong and stable dollar. Over his entire second term, consumer price inflation averaged only 2.4% a year. Lowering the tax rates lead to economic growth by reducing tax rates on the creators of wealth, limiting the growth of federal government expenditures, and providing a strong and stable dollar to businesses and families in America and throughout the world. A shared prosperity can be achieved again. But to do so, the American people will have to overcome the envy feeding myth perpetrated by President Obama and the spin-masters and leadership of the Democratic Party that raising tax rates on high incomes will somehow lead to more job creation, more opportunity and increased prosperity and security for the middle-class

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smithawDec. 5, 1211:49 AM

Really - is that why you attempted to circumvent Congress and the rule of law and suggested the executive branch should be given authority to raise the debt ceiling?

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palsarDec. 5, 1211:50 AM

Wow, so this is how you unite the parties. Way to reach across the aisle.

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luzhishenDec. 5, 1211:53 AM

Obama is right - and the GOP is realizing that their offer is resonating about as well as Mitt's 47% gaff. The details of the GOP proposals - like limiting charity deductions if they aren't large ones - come straight out of some bubble of oligarchs.

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