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Taxes, Rising Gas Princes: What's Next? More Taxes!

We've growled most recently last week about the so-called 'fiscal cliff' during which 'taxes for the rich' were raised. Now we learned today from CNBC that consumers are "taking financial hit" from higher gas prices.

But that doesn't seem to be good enough for President Obama. According to CNS News today, "President Obama has said all along he isn't done raising taxes on wealthy Americans, and he said it again in an interview that aired on CBS during the Super Bowl." The CNS News report then continued:

"A month after signing a bill that raised tax rates on families making $450,000 or more (and individuals making $400,000-plus), the president said he now wants to close "loopholes."

"'I don't think the issue right now is raising rates," Obama said. The goal now is to find "smart spending cuts," "reduce health care costs," and "close loopholes and deductions."

"If you combine those things together, then we can not only reduce our deficit, but we can continue to invest in things like education and reserach and development that are going to help us grow," Obama told CBS's Scott Pelley.

"There is no dobut we need additional revenue coupled with smart spending reductions in order to bring down our deficit. And we can do it in a gradual way so that it doesn't have a huge impact," he added.

"Obama twice drew distinctions between "average Americans" and rich people who "take advantage" of perfectly legal tax rules."

CNS News then went on to note that "Obama has the support of Senate Majority Leader Harry Reid (D-Nev)," and noted his appearance on a TV news show saying any future deals "would have to include new revenue (more taxes)." The CNS news report includes a video of a portion of the President being interviewed by CBS' Scott Pelley.

How much more of this class warfare can taxpayers take?

HT Mark Levin Show for the CNS News article.


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