December 5, 2012 at 9:45 am / by Press Release
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New York Times, ABC News Expose President Obama Debunking His Own False Claims On Tax Reform
President Obama refuses to consider a balanced Republican proposal to avert the fiscal cliff by cutting spending and closing tax loopholes because, he says, “the math” doesn’t add up. But as ABC News and the New York Times have shown, the president previously supported this exact approach – and claimed it would raise even more than the $800 billion Republicans have proposed, without raising tax rates:
PRESIDENT OBAMA NOW
PRESIDENT OBAMA IN 2011
|“‘Unfortunately, the Speaker’s proposal right now is still out of balance. You know, 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,’ Obama said.” (Reuters, 12/4/12)“‘It’s not me being stubborn. It’s not me being partisan. It’s just a matter of math,’ he added.” (ABC News, 12/4/12)
||“[W]hen Mr. Obama was engaged in ultimately unsuccessful negotiations with Mr. Boehner on a debt-reduction deal in the summer of 2011, he recounted his pitch to Republicans for reporters: ‘What we said was, give us $1.2 trillion in additional revenues, which could be accomplished without hiking taxes — tax rates — but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base.’” (New York Times, 12/4/12)“Republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates but by eliminating some deductions and loopholes. During last year’s budget showdown the president said he wanted to do exactly that.” (ABC News, 12/4/12)
Read more about President Obama’s ever-shifting views on tax reform here.
As Speaker John Boehner said, Republicans have demonstrated “there is a middle ground solution that can cut spending and bring in revenue without hurting American small businesses.” It’s a solution President Obama himself once supported. If the math worked in 2011, why doesn’t it work today?