A Quote by Barack Obama

To the extent that we've got a fiscal crisis right now, part of it is prompted by a bullheaded insistence on the part of the president, for example, that we should extend all of his tax cuts, make all of them permanent.
There are a lot of misconceptions regarding the Bush tax cuts, all of them deliberately propagated by none other than President Obama and his pals. The biggest lie of them all is that these tax cuts will only affect the wealthiest two percent.
Now, the president would like to do tax reform, which would obviously lower rates for most people in America and make the tax code fair and get rid of loopholes and special treatment. But absent tax reform, the president believes the right way to get our fiscal house in order is ask the wealthy to pay their fair share.
In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again.
We need to restore the Bush tax cuts or actually make them permanent.
Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.
The clearest way to cut some of this fiscal drag would be to extend the current payroll tax holiday and increase it - as proposed by President Barack Obama. This would cut the fiscal drag by almost half.
We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
People in my hometown voted for President Reagan - for many, like my grandpa, he was their first Republican - because he promised that tax cuts would bring higher wages and new jobs. It seemed he was right, so we voted for the next Republican promising tax cuts and job creation, George W. Bush. He wasn't right.
JFK and Reagan's growth model included tax cuts and a steady dollar. Trump has taken a gigantic step toward restoring prosperity with his tax-cut-centered fiscal policy.
I think the Bush tax cuts should be made permanent.
I've said for thirty years that capitalism is an exhausted system. But now you can see the handwriting everywhere. And one especially horrifying part is the fiscal crisis.
Temporary tax cuts don't create permanent confidence, nor permanent jobs.
Part of the power of Emerson's individualism is his insistence, at crucial moments, that individualism does not mean isolation or self-sufficiency. This is not a paradox, for it is only the strong individual who can frankly concede the sometimes surprising extent of his own dependence.
What Mae West said about sex is true about taxes. All tax cuts are good tax cuts; even bad tax cuts are good tax cuts.
Tax cuts are temporary, tax increases are permanent.
Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.
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