Glenn Eades posted an update 5 months, 2 weeks ago
Obama, the Math Authority
This is the same guy who, not two months ago, admitted on national television that when it come to math, he’s lost -http://www.youtube.com/watch?v=LvZHTmA-www
While he now demands that higher tax rates for the wealthy must be part of a “fiscal cliff” deal, President Obama took a very different line just over a year ago in the last major clash with Congress over a long-term budget deal.
In comments Republicans on Capitol Hill are highlighting, Mr. Obama argued in the summer of 2011 that the government could raise more than $1 trillion in revenue without increasing tax rates paid by the rich — something the president now contends is mathematically impossible.
“What we said was, give us $1.2 trillion in additional revenues, which could be accomplished without hiking taxes — tax rates — but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax-reform process that could have lowered rates generally while broadening the base,” the president said at a July 22, 2011, White House news conference.
Mr. Obama’s position today is that his $1.6 trillion plan to avoid the fiscal cliff of tax increases and deep spending cuts must include higher tax rates for the top 2 percent of the income scale.
“It’s not me being stubborn. It’s not me being partisan. It’s just a matter of math,” Mr. Obama said this week in an interview with Bloomberg.