Quote of the Day: Obama Not Budging on Higher Tax Rates for the Rich

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From President Obama, asked about John Boehner’s deficit proposal yesterday:

He talks, for example, about $800 billion worth of revenues, but he says he’s going to do that by lowering rates. And when you look at the math, it doesn’t work….If we’re going to raise revenues that are sufficient to balance with the very tough cuts that we’ve already made, and the further reforms in entitlements that I’m prepared to make, we’re going to have to see the rates on the top two percent go up. And we’re not going to be able to get a deal without it.

Well, that’s pretty definitive. Obama didn’t explicitly say that rates had to go all the way back up to pre-Bush levels, so there’s still a bit of wiggle room here. But not much.

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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

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That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

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