After Tax Hike, Obama Still Thinks Rich Need to Pay More
It apparently wasn't enough to raise taxes on 77 percent of Americans with the fiscal cliff deal signed into law by auto-pen late last night by President Obama. In a video put out by the White House, President Obama dishonestly explained what the fiscal cliff means and then proceeded to say some Americans still need to "pay their fair share." Obama said there is more he wants to do to reduce our debt in a "balanced way," because after all, the $41 in tax hikes per $1 in spending cuts apparently wasn't enough irresponsibility for him. He gloated over the American tax system becoming more progressive after making tax hikes on the rich permanent.
"I’m willing to do more, as long as we do it in a balanced way that doesn't put all the burden on seniors or students or middle class burdens but also asks the wealthiest Americans to contribute and pay their fair share.”
In case you're wondering, the line about seniors was code for "we aren't touching entitlements."
Obama touted the middle class not receiving a tax hike, yet failed to mention that a vast majority of Americans will see their taxes increase by nearly $2,000 this year. Not to mention the additional $1 trillion tax hike that went into effect on January 1 thanks to ObamaCare.
More than 80 percent of households with incomes between $50,000 and $200,000 would pay higher taxes. Among the households facing higher taxes, the average increase would be $1,635, the policy center said. A 2 percent payroll tax cut, enacted during the economic slowdown, is being allowed to expire as of yesterday.