Obama Response? Tax the Rich!
In embracing the recommendations of his long ignored debt commission, the president will be arguing for higher taxes - for the rich, of course.
Obama’s approach will draw on the findings of the Simpson- Bowles debt commission chairmen who said tax increases had to accompany spending reductions, the person said. The president also will try to align his approach with the so-called Gang of Six, a group of three Republican and three Democratic senators working on their own fiscal recommendations.
Signaling the political challenge, House Speaker John Boehner, an Ohio Republican, said in anticipation of Obama’s speech that “tax increases are unacceptable and are a non- starter.”
Boehner is among the Democratic and Republican leaders that Obama has invited to the White House for a preview of the speech.
This plan has Obama playing the favorite liberal game - class warfare. It will likely work for the White House, as making the rich the bogey-man - arguing that all the GOP cares about is the rich - is an easier con to sell during a bad economy.