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Obama Vows More Tax Increases

by Keith Koffler on January 2, 2013, 8:58 am

President Obama this morning pocketed the Republican concessions on tax hikes included in the Fiscal Cliff deal and promised that it was only the beginning of new taxation to be assessed on the American people.

Obama, who appeared in the White House briefing room Tuesday night to hail the deal, made clear to Republicans that he will continue to seek a “balanced” approach to deficit reduction – White House code for “balancing” spending cuts with raising taxes. Meanwhile, spending on Obama-blessed programs will continue to rise, he asserted:

We can’t simply cut our way to prosperity. Cutting spending has to go hand-in-hand with further reforms to our tax code so that the wealthiest corporations and individuals can’t take advantage of loopholes and deductions that aren’t available to most Americans. And we can’t keep cutting things like basic research and new technology and still expect to succeed in a 21st century economy. So we’re going to have to continue to move forward in deficit reduction, but we have to do it in a balanced way, making sure that we are growing even as we get a handle on our spending . . .

Today’s agreement enshrines, I think, a principle into law that will remain in place as long as I am President: The deficit needs to be reduced in a way that’s balanced. Everyone pays their fair share. Everyone does their part. That’s how our economy works best. That’s how we grow.

While the Fiscal Cliff’s automatic deficit reduction included both tax increases and spending cuts, the deal passed by Congress Tuesday night relied almost exclusively on tax increases to pare down the deficit. The massive Fiscal Cliff spending cuts that had been scheduled to take effect at the beginning of the year are still on tap, but have been delayed for two months.

But if Republicans thought that out of fairness and “balance” the focus would now be on trimming spending, Obama’s comments made clear that they are deluding themselves.

Having been rolled by Obama into accepting a massive tax increase, Republicans will again be pressured into embracing a “balanced” approach that cuts spending but also socks the “wealthy” for more revenues.

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Mojo Risin January 2, 2013 at 12:21 pm

ObadaBuckethead is the boil on the tuckus of prosperity and it needs to be lanced!!!

The problem is: A capitalist economy shouldn’t be presided over by a committed “Social Justice” inspired racist, redistributionist, demagogic commie — NEVER!!!

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Mick Russom January 2, 2013 at 12:22 pm

The bankrupt police state is closing in. THe end of freedom and liberty is nigh. Enjoy your life and friends and family before we all start disappearing.

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Julie Brueckheimer January 2, 2013 at 3:12 pm

Not without a fight. Otherwise, we are a nation of sheep. Just saw a bumpersticker this morning re the 2nd Amendment and mentioning the Holocaust at the same time under the heading Never Forget.

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Anthony January 2, 2013 at 12:25 pm

Mollon Labe…

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Eliot January 2, 2013 at 12:28 pm

“A democracy cannot exist as a permanent form of government. It can only exist until the people discover they can vote themselves largess out of the public treasury. From that moment on, the majority always votes for the candidate promising the most benefits from the public treasury, with the result that democracy always collapses over a loose fiscal policy–to be followed by a dictatorship.” ― Alexander Fraser Tytler

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jm January 2, 2013 at 12:29 pm

The comments regarding having no say, needing to have a constitutional convention,etc are curious to me. The nation had an opportunity to change course last November. Obama won, and is doing exactly what he sad he would do. If you are going to be upset, be mad at anyone who did not vote, or did not vote based on principles rather than emotions. Elections matter.

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MarjoJimbo January 2, 2013 at 8:12 pm

Here, here!

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Luigi January 2, 2013 at 12:30 pm

This JACKASS obama thinks that the country can spend its way into prosperity.

What a complete and utter moron.

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motorman January 2, 2013 at 12:36 pm

this is what happens when the super conservatives don’t vote because they thought that romney was not conservative enought. hope they have learned their lesson before 2016 or the repubs are finished

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alan January 2, 2013 at 12:40 pm

This idiot thinks he can tax and spend to get prosperity?

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John Poland January 2, 2013 at 12:40 pm

The President is such a STUPID Man ..The Only way to get back to Prosperity is to CUT Spending…You can’t Spend Your way out of Debt !!!! When your Credit Card is Maxed out You don’t start Charging That Cards Bills to a New Credit Card You MORON !!!!!!!!!
This Man isn’t Qualified to run a Lemonaide Stand !!! And The Ignorant Know knowthing Voters elected Him On Feelings!! Well get use to Feeling Poorer because this Moron ONLY KNOWS How to Tax and Spend !!!!!

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Steve January 2, 2013 at 12:41 pm

Looks like he may want to solve the spending and the debt through taxation. Like the evil Sheriff of Notingham, he will tax us to death while giving away those dollars to his buddies… A strange combination oh Hollywood elite, rich corporate moguls and the “poor”. No such thing in his playbook as “responsible spending” or “balanced budget”, in fact, he doesn’t believe in budgets. This does not bode well for this country.

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Eric Young January 2, 2013 at 12:52 pm

Based on what’s going on here, THIS COUNTRY DESERVES TO GO BANKRUPT. And Obama – We can’t tax and borrow out way to propserity -you dufus

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zombietimeshare January 2, 2013 at 12:53 pm

Depends on your definition of ‘prosperity.’ Barry’s plan will make for a prosperous government, everyone else not so much. Part of his ‘Leave No Bureaucrat Behind’ program.

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MAJack January 2, 2013 at 12:54 pm

So speaks the Head of the “Gimme dat!” party.

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Chester January 2, 2013 at 12:55 pm

I have plenty of cuts that could be made that would help the US get back on tracts.
1) no increase in spending for House and Senate for 1 year.
2) cancel the US grant Program this wasteful program gives hundreds of millions each year to projects to study the negative effects of ants climbing trees. or the now famous “piss-christ” type art grants.
3) cut all foreign aid to all Middles Eastern countries.
4) cancel all monetary promises to the UN
5) Make all Presidential, Vice presidential,congressional and senatorial seats minimum wage with no benefit packages and do it retroactive to 1970. This alone would cut a few hundred million in federal spending per month.
6) eliminate unions for Federal Jobs and make pension packages 3/4 and no higher of their original salary before retirement. Some of these federal workers make more now than they did when they worked full time.

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Brent Green, CPA January 2, 2013 at 4:25 pm

Good start. We need serious entitlement reform. The social security ponzi scheme is not sustainable. I would cut the Departments of Energy, Education and Labor completely, privatize Amtrak, The Post Office. I would cut the EPA by at least 50%. Defense, particularly foreign aid would be seriously cut along with any funding for the useless UN. Of course, goodbye Obamacare. Replaced by market and tort reform. That’s where I would start. Only in “Bizarro World” can you create prosperity by taxing people more (particularly the job-creators).

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Otis Driftwood January 2, 2013 at 6:29 pm

Sorry but 3/4 pension for federal workers when military members do not even get 1/2 their highest salary earned before retirement pension? I think not.

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Terry January 2, 2013 at 12:55 pm

He knows what he is doing and where he is trying to take our country. God help us!

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JohnRW January 2, 2013 at 12:58 pm

“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle” – Winston Churchill

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DeanH January 2, 2013 at 1:02 pm

“we can’t simply cut our way to prosperity”….SERIOUSLY??????????????

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Bud January 2, 2013 at 1:04 pm

I think the 49% of the people who didn’t vote for this idiot, should take their guns,sticks, rocks, and, buy a, bus, train , or plane ticket, or just drive to Washington and forcibly remove all these politicians from office and take back our United States of America! Enough is enough ! Obama is the worst President ever! He says one thing and his actions are just the opposite. The Lame stream media reports what he says, but never reports the destruction he, and the Democrats are invoking on our great nation.Act now or we lose this Country forever!

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Mojo Risin January 2, 2013 at 3:09 pm

Perfect!!! My sentiments exactly, a 20 million man/woman march on Washington, where the fences of the WH mysteriously collapse and the door bell gets rung!! Oh my gosh, I wish it would happen!!!

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QuietBear January 2, 2013 at 1:13 pm

You can’t tax your way into prosperity, either…

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MJW January 2, 2013 at 1:14 pm

I have to disagree with Mr. Obama on his assertion that “We can’t simply cut our way to prosperity.” On the contrary – We SHOULD cut spending and taxes to make the way for prosperity. The government does not own my labor and it does not own the capital of the businesses I serve. Therefore the government is in the way of prosperity.

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Arminius January 2, 2013 at 1:18 pm

You can’t cut and continue to supports public usinion (including the UAW), the permanent welfare class and illegals. We can wait for the collapse and watch the cities full of the filth burn. Rough way to reduce spending but the democrats chose it.

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WeThePeople January 2, 2013 at 1:19 pm

He either did not study Economics in college or he failed it. Either way we’ll never know.

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George Garrett January 2, 2013 at 1:20 pm

If Koffler has been dedicated to preserving freedom by holding the White House responsible so far,
it looks like freedom is finished.

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Susan January 2, 2013 at 1:28 pm

It keeps getting worse and worse. Never thought I’d see the day that Republicans would vote for $40 dollars of tax increases for every $1 reduction in the over-inflated budget baseline. Then I read these scumbag senators voted on the 154-page bill only 3 minutes after receiving it. Nothing but a bunch of collectivist corruptocrats running our federal government. The Republican party has seen their last penny and last minute of time supporting their RINO candidates from me.

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Julie Brueckheimer January 2, 2013 at 3:21 pm

I’m an independent but I will still consider voting for any Republican who did not sign on to this. The others, you’re right.

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Susan January 2, 2013 at 3:39 pm

We don’t register by political party in Texas, but I’m disavowing the Republican party effective today. I’ll still vote for Republicans who are conservatives, but will never again check the box next to Rep Lamar Smith or Sen John Cornyn. They both voted for this travesty.

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rollaman January 2, 2013 at 1:28 pm

This is what we get as a nation when we elect a socialist/keynesianist minset person to the office. Unfortunately, about 40% of the population isn’t bright enough to realize this, and will go down with the sinking ship while shouting for more of the same.

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Steve January 2, 2013 at 1:35 pm

This President is on a mission of “Wealth Redistribution” and will not cut a dime in speding. He is the most fiscal inept President in American history.

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DonB January 2, 2013 at 1:46 pm

This calamity has been building for decades, it has escalated since 2008. There seems to be no real leadership in Washington, D.C. No filters, no checks and balances, not much of anything. When people are in soup lines again, race riots break out, we can point the finger at every doggoned one of them…including the Supreme Court.

The answers lie in cutting spending with an axe and not a scalpel, fair tax or flat tax, having a real budget that does not allow any more monies to our enemies. The list goes on, but this is not a Republican no Democrat problem, it is an American problem and neither party is doing anything to solve. Both parties, both houses and the POTUS all contribute to the future being very bleak as well as the present.

I could get vulgar, but that solves nothing.

8% approval rate? That say it all. this is the worst Congress and Executive Branch in US history.

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BadKosh January 2, 2013 at 1:49 pm

This illustrates the PROOF THAT OWE-BAMA IS AN IDIOT. Had he studied history, he would have KNOWN that it is EXACTLY what you do to become prosperous as a country. Its a shame his voters were even more stupid and clueless.

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bubster January 2, 2013 at 2:00 pm

i am not following your logic. the shady attorney from chitown only has to talk it up…the ones doing the proposing and passing are the congress. prez took off to hawaii and didn’t even sign it. you have a right to be angry but there is blame you need to spread around evenly dude.

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T. Copeland January 2, 2013 at 1:55 pm

Quite a contrast with Winston Churchill’s “We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”

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bubster January 2, 2013 at 1:58 pm

say g’bye to your tax deductions.

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Girly1 January 2, 2013 at 1:59 pm

Looks like Warren Buffett is receiving a belated Christmas gift from Barackaclaus:
$331M for railroad operators to maintain train tracks. Three years ago Uncle Warren bought the second largest railroad for $34B – Burlington Northern. Merry Christmas, Warren!

Other beneficiaries of taxpayer largesse include Obama’s Hollywood pals:
$430M in tax extension benefits.

It’s great to be King!

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The1 January 2, 2013 at 2:02 pm

The democrat communists will continue to raise your taxes and refuse spending cuts. They borrow and enslave your children. They wipe out your savings and retirement via inflation. Obama’s change has come. What are you doing about it?

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JRo January 2, 2013 at 2:09 pm

This may be the most disgusting, asinine, communist, unAmerican, pigheaded argument I’ve ever seen this moron make. You can’t cut your way to prosperity????? That implies prosperity is only that of the government. That they need to take from us that they can be prosperous. He cannot possibly be stupid enough to think that taxing someone more will make that person prosperous so this must be what he means.

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Fastgirl January 2, 2013 at 2:11 pm

Howard dean is right. If Americans want larger govenrment and the programs that come along with it every one is going to have to pay higher taxes just like the do in europe. Obama and the Dems are trying to convince us we can have european taxes and still be taxed at the much lower American rates. At least the leaders of the european counties don’t lie to their citizens like ours do.

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UpChuck.Liberals January 2, 2013 at 2:19 pm

Barry got one more plank in the coffin of this country and our way of life. This isn’t to say that the Presidents since Reagan, did one thing to stop it, be they Republican or Democrat.

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JRo January 2, 2013 at 2:23 pm

Sadly many people still think that when the SHTF the way to prosper is to spend rather than budget tighten…interesting indeed. How many businessmen who still own a business think that?

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LARRY3100 January 2, 2013 at 2:29 pm

what an idiot….why cant they just quit spending so much money,money that we dont even have…if you want us to cut spending you have to agree to raise taxes,what kind of sense does that even make?? this country is hopelessly lost thanks to him and the idiots that support his way of thinking..wish i had never heard of him!!

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Fred Tylert January 2, 2013 at 2:30 pm

“We can’t simply cut our way to prosperity”
The man’s thought patterns have been perverted by his ideology.

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the rev al January 2, 2013 at 2:32 pm

What idiots Obama and liberal supporters are. The Anointed one, with the help of a adoring lapdog media that supports his disastrous polices, has convinced the ‘know nothing’ voters that all our problems will be resolved if we just raise taxes on the rich. There is no precedence of raising taxes ever creating jobs or spurring the economy in a recession like we are in. The problem with America is too much spending, debt and high taxes which are killing our economy and imperiling the future of our country. All that said, the masses who are not rich really believe that ‘soaking the rich’ is the answer. What a pathetic group of people who feel they are entitled to government support off the backs of the people and businesses that have made this country great. No one ever said free enterprise is perfect but a thriving business sector is what creates jobs and a vibrant economy. Not a ballooning government that takes more of our income and freedoms away at an alarming rate.

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Failed Obamessiah January 2, 2013 at 2:37 pm

Obamanomics teaches that high taxation, excessive borrowing, currency devaluation and inflation create jobs.

Government jobs, that is…

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Mr Manion January 2, 2013 at 2:41 pm

so we know we can not cut our way out, and obumer knows we can not tax our way out, but raises then amy way on those who are the only hope of building our way out, but obumer knows that we can not build our way out, the cheap labor is already long ago outsourced and we all live on the got check and stealing from china,
well why is obumer not telling ust the whole story and why this tax payer shell game. simple notice how he spends and spends , not cuts and gives more to the poor and doing so demonixing the those that have from working legally, and note it will only take money out of the market that creates jobs,
Answer. to build big govt dependency through economic crisis and then when all the money is gone and redirected ultimately to the govt we have a structured default to solve the problem and this is the only solutiong right now but no one talks about it or admits it during this power struggle before it happens,
Sad thing is that i have to spell it outl for if you knew already it is too late and if you did and you are part of it your are not going to change and if you are just plain willfully ignorant you are gone to begin with,
It all rather reminds me of talking to an alcoholic who is in charge! good luck ,
However you at least make the futile effort.

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Owen_Kellogg January 2, 2013 at 2:45 pm

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”

-Baraq Obama, 12 Sep 2008-

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JohnF January 2, 2013 at 2:47 pm

What an idiot. Yes you can cut your way to prosperity … reduce wasteful and ineffective government programs, like the Dept. of Education, Highway, and Agriculture to purely advisory departments without any means to distribute funds to states or individuals. Let states run their own schools, infrastructure, farms, welfare, and other programs without federal bureaucracy and waste. Reduce the federal government to what it was intended … defense, diplomacy, and inter-state arbitration. Find a plan to kill Social Security and Medicaid so that current participants continue to receive benefits, while future participants receive fewer benefits further out, so in 50 years the federal government is out of the retirement and insurance business. Eliminate Obamacare completely, let states run their own insurance plans without federal involvement.

Do the above items, and we will start to ease the national deficit. We spend over $400B dollars a year just on the interest of the deficit, maybe in 40 or 50 years we can see a balanced budget.

Think long term you moron, instead of trying to get Democrats elected again in 2 years.

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MichMike January 2, 2013 at 6:35 pm

The budget can be balanced in 2 years, with a bit of pain. 4 years without hardly breaking a sweat. After that, it is all over if they continue their current corruption.

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Steve McCrone January 2, 2013 at 2:50 pm

Not to worry o blow job and the demoTwits will allow us to work as hard as we can and at the end of the week they will decide the amount of an allowance we shall get.

Is that not nice of them???

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Jack Carter January 2, 2013 at 2:56 pm

The Democrats seem to think that all that you have to do is pass a law, screw around with the statistics, and spend the necessary amount of money to get anything, anything at all done. But, you can ‘t. It just doesn’t work that way.

For one thing, the presumption when you pass a law is that people will follow it and respect it but that is becoming increasingly uncommon. Individuals, corporations, associations, municipalities, and States are increasingly challenging Federal laws and the Federal government is increasingly challenging State and local laws in the courts leaving them virtually unenforcible while others simply ignore new laws and break them at will.

For the last decade or so the statistics coming out the bureau of labor statistics have been intentionally misleading. For instance, we are told that the unemployment rate is below 9% but it isn’t true. The unemployment rate is actually somewhere in the region of 14-18% and could actually be higher than that.

For another thing, whenever you spend money you have to get it from some place and the only place for the government to get money is from the people. It is widely thought that a tax rate of 10-15% might be sustainable but today the combined Federal, State, and local taxes on income can be as much as 62% and it gets worse every year. Government spending does not create growth or produce new revenue so the private sector is becoming increasingly starved for money. The assertion that you can just print the money that you need doesn’t work very well either since that just devalues the money that you already have in circulation.

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MichMike January 2, 2013 at 6:48 pm

The politicians are all liars. The dems are particularly destructive in their actions. Other than abortion, the people agree on every basic issue, nearly 100%. It is the politicians that tell us we are divided while they plunder via corruption.

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MichMike January 2, 2013 at 2:56 pm

But we can spend our way to bankruptcy. Anyone with any intelligence knows this. obama appears not to know this. Or does he? Is he smart or not?

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Darkangel January 2, 2013 at 7:35 pm

My money is on Dumb As A Rock, and I apologize herewith to all the minerals whose intelligence I just insulted.

Obeyme hasn’t released his college transcripts yet, and you know something? I’m starting to doubt that it’s because he took a course load that screams “commie.” At this point, I’d say it more than likely screams “dummy,” both by choice of courses and the grades he got in them.

We’ll never know, of course. But it might be amusing to see what sort of military information I could FOIA out of this anti-defense administration by way of comparison.

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Doug Lynn January 2, 2013 at 2:56 pm

Why didn’t President Obama and the Democrats eliminate the loopholes and deductions for the wealthiest in 2009 and 2010 when they had total control of Washington?

It appears they did nothing about taxes in 2009 and 2010 because they want to use income inequity arguments to divide the country politically and divert attention from deficit spending. They could double taxes on high incomes and we would still run huge deficits but most voters do not know this fact. They need someone to blame so they actually prefer having room to complain over getting the changes they say the want.

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OregonBuzz January 2, 2013 at 2:57 pm

You can’t tax your way to prosperity either.

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Marcus January 2, 2013 at 3:04 pm

Obama has no intention to bring prosperity to the United States. He never did. Every decision he has made has been to strangle the economy, take away our rights, demonize successful people, and destroy the middle class. Those are his marching orders from his puppet masters.

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Julie Brueckheimer January 2, 2013 at 3:09 pm

That choice of the word ‘enshrined’ speaks volumes about his view of himself.

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