Quote of the Day: Obama Not Budging on Higher Tax Rates for the Rich

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From President Obama, asked about John Boehner’s deficit proposal yesterday:

He talks, for example, about $800 billion worth of revenues, but he says he’s going to do that by lowering rates. And when you look at the math, it doesn’t work….If we’re going to raise revenues that are sufficient to balance with the very tough cuts that we’ve already made, and the further reforms in entitlements that I’m prepared to make, we’re going to have to see the rates on the top two percent go up. And we’re not going to be able to get a deal without it.

Well, that’s pretty definitive. Obama didn’t explicitly say that rates had to go all the way back up to pre-Bush levels, so there’s still a bit of wiggle room here. But not much.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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