Higher Tax Rates Won’t Boost Revenue

By: Nick Ottens (Diary)  |  August 3rd at 09:57 AM  | 

President Barack Obama and his Democratic Party would have liked to increase taxes as part of a “balanced” approach to deficit reduction. Republicans, adamantly opposed to raising taxes, especially during a time of fragile economic recovery, managed to prevent immediate tax hikes although revenue enhancement could be part of a broader plan that is supposed to be worked out by a bipartisan congressional committee later | Read More »

Obama: Can’t Let the Rich “Relax and Count Their Money”

By: Nick Ottens (Diary)  |  April 26th at 02:54 PM  | 

“I’m rooting for everybody to get rich,” President Barack Obama said last week, speaking at a town hall meeting in Reno, Nevada. “But I believe that we can’t ask everybody to sacrifice and then tell the wealthiest among us, well, you can just relax and go count your money, and don’t worry about it. We’re not going to ask anything of you.” The president urged | Read More »