Taxes: Anyone who thinks the fiscal cliff deal will end President Obama’s soak-the-rich campaign isn’t paying attention. Even before the ink had dried on his $620 billion tax hike, Obama was talking up his desire for more.
Obama hinted at this on Sunday on “Meet the Press,” when he told David Gregory that “you are not only going to cut your way to prosperity” and that “one of the fallacies” was that “deficit reduction is only a matter of cutting programs.”
But as the fiscal cliff agreement looked increasingly likely, Obama started talking more specifically about additional tax hikes. On Monday, he told a White House rally that “revenues have to be part of the equation in turning off the sequester.”
Translation: If Republicans want to prevent devastating defense cuts from automatically kicking in two months from now, they’ll have to choke down another round of tax hikes.
And he made it clear any future deficit cuts will have to include still more new taxes. “If Republicans think that I will finish the job of deficit reduction through spending cuts alone,” he said, “then they’ve got another thing coming.”