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Obama: 'No doubt' nation needs more tax revenue to lower deficit
The Hill ^ | February 3, 2013 | Peter Schroeder

Posted on 02/03/2013 3:48:25 PM PST by jazusamo

President Obama insisted Sunday that additional tax revenue will need to be part of future deficit deals, but said hikes in tax rates may not be necessary.

In a pre-Super Bowl interview with CBS, the president outlined his vision for further deficit reduction, which he said was essential, but in a way that preserves the government's ability to continue spending on key programs.

He also emphasized that the seemingly continuous stream of Washington standoffs was wreaking havoc on confidence in the U.S. economy.

Republicans have insisted that the revenue side of the deficit equation was dealt with during "fiscal cliff" talks, which resulted in a compromise that saw rates climb on the nation's top earners. But Obama flatly rejected the notion that future talks would explicitly focus on spending.

"There is no doubt we need additional revenue, coupled with smart spending reductions, in order to bring down our deficit," he said.

Obama said that a serious deficit reduction plan would combine "smart spending cuts," reforms to healthcare programs, and tax reform that eliminates loopholes and specific deductions.

"If you combine those things together, then we can not only reduce our deficit, but we can continue to invest in things like education and research and development…without raising rates again," he said.

On entitlement programs tied to healthcare, Obama suggested there were significant savings to be found through reform.

"There's a lot of waste in the system, and there's things we can do to reduce healthcare costs," he said.

Obama's interview came just days after new data from the Commerce Department found that the economy actually shrank 0.1 percent in the fourth quarter of the year, driven primarily by significant drops in spending by the federal government and the defense industry. The latter category dropped 22 percent as defense contractors braced for possible sequestration spending cuts set to take effect at the beginning of the year if the "fiscal cliff" had taken effect. The deal struck to avoid the cliff delayed those cuts for two months, setting another round of legislative battles before March 1.

Obama said those sharp drops weighed on "a lot of positive signs in the economy," and said continued standoffs between the two parties were taking their toll.

"Washington cannot continually operate under a cloud of crisis, that freezes up consumers," he said. "We can't afford these self-inflicted wounds."


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: obama; obamataxes; taxes
"We can't afford these self-inflicted wounds."

You're inflicting them, Barry. We can't afford you and the tax and spent Demorats.

1 posted on 02/03/2013 3:48:37 PM PST by jazusamo
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To: jazusamo

And the sheeple think that the tax dollars will come to them and not the unions and banks where is really goes.


2 posted on 02/03/2013 3:51:25 PM PST by bmwcyle (People who do not study history are destine to believe really ignorant statements.)
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To: jazusamo

This lying POS ignored the deficit for four years and pretended his insane spending wasn’t causing a problem. Now he says we can get more tax revenue without raising rates. He’s insane. Yet a lot of dummies in this country are happy to believe him because it means they can keep getting benefits without having to pay for them, or having “the rich” pay for them.


3 posted on 02/03/2013 3:51:35 PM PST by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: jazusamo; All


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4 posted on 02/03/2013 3:52:04 PM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: jazusamo
""There's a lot of waste in the system"

There certainly is.....get rid of all the Progressives and RINO's, stop ALL Welfare programs to anyone who doesn't pay into that system, and require Voter ID to assure only those who vote LEGALLY can be counted.

While we're at it, eliminate ALL Governement Departments NOT specifically authorized by a vote of Congress.

5 posted on 02/03/2013 3:54:14 PM PST by traditional1 (Amerika.....Providing public housing for the Mulatto Messiah)
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To: jazusamo

OH B.S. additional tax revenue = MORE SPENDING.

This tax and spend is a cycle that will go on and on as long as we the people allow it.

It is TIME for a line in the sand on this issue. We need to stop this now!!!!


6 posted on 02/03/2013 3:55:33 PM PST by EXCH54FE (Hurricane 416)
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To: jazusamo

“Smart” is the new “common sense” code word. Can Obama define what he means by “smart?”


7 posted on 02/03/2013 3:56:16 PM PST by Vince Ferrer
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To: jazusamo
You're inflicting them, Barry. We can't afford you and the tax and spent Demorats.

You're inflicting them, Barry. We can't afford you and the tax and squander Demorats.

Fixed it for you, jazusamo.

8 posted on 02/03/2013 3:56:59 PM PST by Standing Wolf
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To: Opinionated Blowhard

Lying POS sums him up perfectly on most all issues.

At first I thought him stupid, then a hater of our country, now just plain evil.


9 posted on 02/03/2013 3:57:46 PM PST by jazusamo ("Mercy to the guilty is cruelty to the innocent." -- Adam Smith)
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To: Opinionated Blowhard

“The rich” don’t pay for anything. By definition, by the time they have given up a sufficient large portion of their worldly goods, they are no longer “rich”, they are just some more poor shlubs driven down into the lowest common denominater of all other mankind.


10 posted on 02/03/2013 3:58:09 PM PST by alloysteel (If conspiracy does not exist everywhere, it exists nowhere.)
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To: traditional1

why does Obama get away from liberal hack journalists without the logical follow up questions???

For example, if there is all this waste in the system, what has Obama been doing for the last four years to address the problems?? If there are all these things we can do to bring down costs, what in particular does he have in mind, and what has he been doing??

He’s the man, he is the system, he can’t rail against the system like some Saul Alinksy hack. Obama’s the man.


11 posted on 02/03/2013 3:59:08 PM PST by Dilbert San Diego
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To: Standing Wolf

Thanks, you’re right on the mark.


12 posted on 02/03/2013 4:00:02 PM PST by jazusamo ("Mercy to the guilty is cruelty to the innocent." -- Adam Smith)
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To: jazusamo

Kick in some inflation, that’ll increase your revenue.


13 posted on 02/03/2013 4:02:06 PM PST by Cboldt
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


14 posted on 02/03/2013 4:03:02 PM PST by Nachum (The Obama "List" at www.nachumlist.com)
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Please bump the Freepathon or click above and donate or become a monthly donor!

15 posted on 02/03/2013 4:03:23 PM PST by jazusamo ("Mercy to the guilty is cruelty to the innocent." -- Adam Smith)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


16 posted on 02/03/2013 4:03:53 PM PST by Nachum (The Obama "List" at www.nachumlist.com)
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To: jazusamo
From the guy who eats Breakfast, flies from D.C. to Vegas, makes a 30 Minute Speech about Amnesty for Lawbreakers, has a bite of Lunch and then flies back to D.C. for Dinner.

Cost of Trip?

AF1 = $1.6 Million Dollars
Backup AF1 = $1.6 Million Dollars
C-17 (for Limo, SS Vehicles and other equipment) = $1.6 (?) Million Dollars.

Round up to a cool $5 Million Dollars and a massive amount of Greenhouse Gasses, not including Obama’s Hot Air.

17 posted on 02/03/2013 4:04:20 PM PST by Kickass Conservative (I only Fear a Government that doesn't Fear me.)
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To: jazusamo

Another Democrat on tax cuts and revenues:

“Our true choice is not between tax reduction on the one hand and the avoidance of large federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget, just as it will never produce enough jobs or enough profits. Surely the lesson of the last decade is that budget deficits are not caused by wild-eyed spenders, but by slow economic growth and periodic recessions, and any new recession would break all deficit records. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low. And the soundest way to raise the revenues in the long run is to cut the rates now.”

JFK, 12/14/1962

Except now the wild eyed spenders are part of the problem.


18 posted on 02/03/2013 4:07:04 PM PST by Fred Hayek (The Democratic Party is the operational wing of CPUSA.)
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To: jazusamo

He’s right. We do need more tax revenue. There is zero chance we can solve our problem with spending cuts. The question is how do we go about expanding the revenue base. Obama would tax the hell out of everyone. The ONLY answer is economic growth. Almost nobody in Washington has a plan to create an environment for growth.


19 posted on 02/03/2013 4:07:19 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: jazusamo

eliminate the Dept. of Education, the EPA, Airport Security, Welfare, food stamps, and section 8 housing for starters and you don’t need any more money!


20 posted on 02/03/2013 4:09:46 PM PST by dalereed
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks jazusamo.

100th Anniversary of the Income Tax
Townhall.com | February 3, 2013 | Heather Ginsberg
Posted on 02/03/2013 4:05:49 PM PST by Kaslin
http://www.freerepublic.com/focus/news/2984983/posts


21 posted on 02/03/2013 4:09:46 PM PST by SunkenCiv (Romney would have been worse, if you're a dumb ass.)
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To: jazusamo

Obama: “We can’t afford these self-inflicted wounds.”

I takes one to know one.


22 posted on 02/03/2013 4:10:34 PM PST by Belteshazzar (We are not justified by our works but by faith - De Jacob et vita beata 2 +Ambrose of Milan)
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To: jazusamo

Ah, no doubt one of the grades the bat-eared-b*stard wants to keep hiding was his F in Econ for Idiots.


23 posted on 02/03/2013 4:12:36 PM PST by Da Coyote
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To: Wyatt's Torch
That's correct but he is personally impeding that economic growth with his views on drilling, the delay of the KeystoneXL pipeline, subsidies and tax credits for “green” energy programs that go to his political friends, his support of crooked union leaders, etc.
24 posted on 02/03/2013 4:14:49 PM PST by jazusamo ("Mercy to the guilty is cruelty to the innocent." -- Adam Smith)
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To: jazusamo

Absolutely. The regs by this administration are crushing growth. We won’t see growth north of 2% while he is POTUS.


25 posted on 02/03/2013 4:19:06 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: jazusamo

Says Mr. Hawaii Vacation..


26 posted on 02/03/2013 4:20:55 PM PST by cardinal4 (Constitution? What Constitution?)
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To: Wyatt's Torch

“Almost nobody in Washington has a plan to create an environment for growth.”

I’m not in Washington.

1. For any company headquartered and having 51% of their employees in the United States, ZERO income tax rate.

2. Eliminate the Capital Gains rate on dividends. Raise it on gains on stock trades. Encourage long-term investment.

Send me to Washington and I’ll grow the economy.


27 posted on 02/03/2013 5:46:55 PM PST by Bryan24 (When in doubt, move to the right..........)
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To: traditional1
stop ALL Welfare programs and eligibility to vote for anyone who doesn't pay into that system,

There, fixed it.

If you don't have any skin in the game, if you can't run your life such that you pay into the system, why should you have a say-so in how the system is run?

28 posted on 02/03/2013 5:54:16 PM PST by FreedomPoster (Islam delenda est)
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To: cardinal4

Bronco, just call up the fed and ask then to print a few gazillion billion trillion dollars. That will about cover your next 4 years and Chewbacca’s food bill.


29 posted on 02/03/2013 5:54:39 PM PST by VRWCarea51
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To: EXCH54FE

It is TIME for a line in the sand on this issue.

Obama will just appoint a new “line in the sand” tzar to deal with it.


30 posted on 02/03/2013 5:56:14 PM PST by philetus (Keep doing what you always do and you'll eventually get what you deserve)
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To: jazusamo

How many times does he have to raise taxes? He came in raising taxes and has been raising them ever since!

I make far less than $200,000 per year and I have LOST COUNT of how many times my taxes have gone up since 2008.


31 posted on 02/03/2013 6:06:00 PM PST by GodAndCountryFirst
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To: philetus

So very true!!

And the line will be moved on down the lane to the cliff and over we all go.

The Dollar is very low, we must pay $1.36271 to get 1 Euro.
Stand by for $4-5.00 Gas


32 posted on 02/03/2013 6:11:40 PM PST by EXCH54FE (Hurricane 416)
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To: jazusamo

There it is.


33 posted on 02/03/2013 6:16:56 PM PST by fhayek
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To: jazusamo

Barry Soetoro is an asshole,


34 posted on 02/03/2013 6:24:56 PM PST by VRWC For Truth (Roberts has perverted the Constitution)
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To: jazusamo

The jug-eared jackass should stick to doing what he does best: bowling and skeet hunting.


35 posted on 02/03/2013 6:26:55 PM PST by windsorknot
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To: jazusamo
Obama: 'No doubt' nation needs more tax revenue to lower deficit

Really? Then why is he doing the exact opposite of what will bring in more revenue?

If you want maximum tax revenue then drop the tax rate to 11%. Every percent over that you are decreasing revenue.

36 posted on 02/03/2013 6:28:22 PM PST by Harmless Teddy Bear (Promotional Fee Paid for by "Ouchies" The Sharp, Prickly Toy You Bathe With!)
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To: jazusamo
Apr 23, 2012
Christina Romer Knows Tax Hikes Will Kill the Recovery
http://www.forbes.com/sites/charleskadlec/2012/04/23/christina-romer-knows-tax-hikes-will-kill-the-recovery/

In a paper entitled: “The Macrcoeconomic Effects of Tax Changes” published by the prestigious American Economic Review in June 2010 (during her tenure at the White House), she stated: “In short, tax increases appear to have a very large, sustained, and highly significant negative impact on output.”

...The Romers’ baseline estimate suggests that a tax increase of 1% of GDP (about $160 billion in today’s economy) reduces real GDP by 3% over the next 10 quarters.

37 posted on 02/03/2013 6:34:39 PM PST by Son House (Romney Plan: Cap Spending At 20 Percent Of GDP.)
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To: jazusamo

No doubt was a shitty band.


38 posted on 02/03/2013 6:34:50 PM PST by Vermont Lt (We are so screwed.)
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To: jazusamo

This worthless maggot will not quit until he and his filthy democrats have taken our country to a point of no return. Heck, we might already be there...


39 posted on 02/03/2013 7:05:07 PM PST by Gator113 (Leave my guns alone and REGISTER THE DAMN LIBERALS!!)
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To: EXCH54FE

Already over $4 here in SoCal


40 posted on 02/03/2013 7:09:28 PM PST by philetus (Keep doing what you always do and you'll eventually get what you deserve)
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To: jazusamo

This man is just damn brilliant. /sarc>


41 posted on 02/03/2013 7:50:26 PM PST by The_Media_never_lie (Actually, they lie when it suits them! The crooked MS media must be defeated any way it can be done!)
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To: Son House

Let’s go waaay back to observations from supply siders....

“It should be known that at the beginning of a dynasty, taxation yields a large revenue from small assessments. At the end of the dynasty, taxation yields a small revenue from large assessments.”

-Abd-ar-Rah.mân Abû Zayd ibn Khaldûn (1332-1406),

The Muqaddimah, An Introduction to History, Franz Rosenthal translation, abridged and edited by N.J. Dawood, Bollingen Series, Princeton University Press, 1967, p.230, quoted by Ronald Reagan
(Human nature hasn’t changed much over the centuries.)


42 posted on 02/04/2013 3:52:22 PM PST by griswold3 (Big Government does not tolerate rivals.)
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