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November 15, 2012

Obama: No Bush-Era Tax Cuts for Wealthy Under Deficit Deal 
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During the Wednesday news conference, President Obama said he would
refuse to accept any extension of the Bush-era tax cuts for the
wealthiest Americans in talks on averting the so-called fiscal cliff.

President Obama: "We cannot afford to extend the Bush tax cuts for the
wealthy. What we can do is make sure that middle-class taxes don't go
up. We can eliminate loopholes and deductions that have a distorting
effect on our economy. I believe that we have to continue to take a
serious look at how we reform our entitlements, because healthcare costs
continue to be the biggest driver of our deficits. So, there is a
package to be shaped, and I'm confident that parties — folks of
good will in both parties can make that happen."

 

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