WASHINGTON (AP) — In a challenge to Republicans, President Barack Obama urged Congress on Wednesday to extend expiring tax cuts immediately for all but the nation’s highest income earners as a way to eliminate half of the so-called ‘‘fiscal cliff’’ that threatens to send the economy back into recession.
‘‘What I'm not going to do is to extend Bush tax cuts for the wealthiest 2 percent that we can’t afford and according to economists will have the least positive impact on the economy,’’ the president said at his first news conference since his re-election last week.
Comments
Awesome, tax the guys creating jobs. Wonderful.
Tav or no tav. The debate goes on and on and on. If we don't tax the rich, then where do we get the revenue to pay off our debt? Aren't the Republicans interested in this? And for those worried that taxing the rich would reduce jobs, where are your facts to prove this? The trickle down theory the Rebubs support doesn't work. Are not the rich getting tax and loop hole breaks now? And have they created more jobs with a joblessness rate now at 7.9 percent?
Correction: Tax or no tax, not tav.