Obama can't and won't do this.
But Repubicans want to and can.
During the presidential campaign Barack Obama argued that a balanced combination of new revenues and spending cuts were needed for urgent, necessary deficit reduction (see); and that as part of this balanced approach the rich needed to cough up more money and pay their "fair share" in higher taxes. Now doing a 180 degree Chicago flip flop Obama says that there is no urgent, necessary deficit problem, no dangerous spending problem, no runaway debt problem-and that the budget doesn't need balancing (would love to hear Bill Clinton's take on this). Well then if what the trickster and confuser-in-chief now says is true then there's no need for additional tax hikes over what has already been raised (if that was even necessary) from the fiscal cliff agreement with House Republicans.
Putting it another way, if Obama, as he said, is against "balancing the budget for its own sake" then to be consistent he'll need to oppose raising taxes for its own sake-taxes on the rich, corporations or anyone (closing loopholes included). For without a deficit to close, spending to cut and a budget to balance Obama undercuts any fiscal reason for additional revenue; for him to continue his soak the rich offensive means that he wants to raise their taxes for its own sake, because of their wealth and success-as if that were immoral or a crime requiring punitive measures. What was characterized as a "fairness" campaign to hike taxes in 2012 will now be seen by the public as a naked eat the rich class warfare charade making Obama look petty, mean spirited and vengeful, hating the rich for their wealth and wanting a bigger pound of their flesh for ideological satisfaction.
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