White House: No Deal Without Tax Hikes on Wealthy

White House: No Deal Without Tax Hikes on Wealthy

White House Press Secretary Jay Carney: “Well, let me say this: The President has been absolutely clear, as have I, that rates have to go up on top earners — millionaires and billionaires — everyone making over $250,000. The President made that clear again and again, all year long, and he’s made it clear in this post-election period where we’ve been engaged in conversations with members of Congress about how we deal with the fiscal cliff and our long-term deficit challenges. We have yet to see even an acknowledgement from Republican leaders of the fundamental fact that there is no deal that does not include rates going up on top earners…[The President] doesn’t hold that position because it’s inherently good, he doesn’t hold it because he wants to punish wealthy Americans, he holds it because it is mathematically sound. It is an absolute fact that there is no way to achieve the kind of balance … without rates going up on top earners.”

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