Obama: Don't extend tax cuts to the rich

(AP) - President Barack Obama strongly defended his opposition to extending Bush-era tax breaks for the wealthiest Americans on Wednesday and delivered a searing attack on Republicans and their House

News 12 Staff

May 22, 2014, 7:27 PM

Updated 3,674 days ago

Share:

(AP) - President Barack Obama strongly defended his opposition to extending Bush-era tax breaks for the wealthiest Americans on Wednesday and delivered a searing attack on Republicans and their House leader for advocating "the same philosophy that led to this mess in the first place."
Obama said the struggling U.S. economy can't afford to spend $700 billion to keep lower tax rates in place for the nation's highest earners despite a call by House Minority Leader John Boehner and other GOP leaders to do just that.
Speaking in the same city where Boehner, an Ohio Republican, recently ridiculed Obama's economic stewardship, Obama said Boehner's policies amount to no more than "cut more taxes for millionaires and cut more rules for corporations."
Obama's comments came as the administration rolled out new proposals designed to re-ignite a sputtering recovery, including new tax breaks for businesses and $50 billion for U.S. roads, rails and airports.
"Let me be clear to Mr. Boehner and everyone else. We should not hold middle class tax cuts hostage any longer," the president said. The administration "is ready this week to give tax cuts to every American making $250,000 or less," he said.
Actually, Obama and other Democratic leaders want to extend the tax cuts except for individuals making over $200,000 a year ? or families earning over $250,000. The sweeping series of Bush tax cuts expires at the end of this year unless Congress renews them.
Obama went after Boehner - who would probably become House speaker if Republicans win control of the House in November's midterm elections - directly by name.
In Boehner's remarks on Aug. 24, Obama said, the Republican leader offered "no new ideas. There was just the same philosophy we already tried for the last decade, the same philosophy that led to this mess in the first place."
Ahead of Obama's speech, Boehner offered his own proposals on Wednesday, saying in a morning broadcast interview that Congress should freeze all tax rates for two years and should cut federal spending to the levels of 2008, before the deep recession took hold.
"People are asking, 'Where are the jobs?"' Boehner said, calling the White House "out of touch" with the American public.
Obama gave one of his strongest pitches yet on allowing the Bush tax cuts to expire at the end of this year for wealthy Americans but allowing them to remain in place for everybody else.
Republicans, and even some Democrats, have suggested that it was no time to raise taxes on anybody, given the fragile state of the economy.


More from News 12
2:23
Sunny, muggy Thursday in the Hudson Valley; storms possible Friday

Sunny, muggy Thursday in the Hudson Valley; storms possible Friday

0:34
New York state legislation could allow schools to cancel class on 'extreme heat’ days

New York state legislation could allow schools to cancel class on 'extreme heat’ days

3:36
 The East End: Wickham’s Fruit Farm in Cutchogue

The East End: Wickham’s Fruit Farm in Cutchogue

1:43
Officials: Serious cybersecurity attack holds data, operations in City of Newburgh at ransom

Officials: Serious cybersecurity attack holds data, operations in City of Newburgh at ransom

2:11
Teen who died in Harrison parking garage fall remembered at prayer service

Teen who died in Harrison parking garage fall remembered at prayer service

0:47
Elmsford hotel employees file lawsuit against management alleging criminal activity

Elmsford hotel employees file lawsuit against management alleging criminal activity

1:43
Phelps Hospital holds Inaugural World Sickle Cell Day event

Phelps Hospital holds Inaugural World Sickle Cell Day event

0:59
Bear sightings increase across the Hudson Valley

Bear sightings increase across the Hudson Valley

1:36
Toddler from New Square expected to recover after being hit by van

Toddler from New Square expected to recover after being hit by van

0:32
Sapling from Anne Frank’s tree dedicated at White Plains’ Garden of Remembrance

Sapling from Anne Frank’s tree dedicated at White Plains’ Garden of Remembrance

1:45
Westchester hires flood mitigation director to tackle escalating issue

Westchester hires flood mitigation director to tackle escalating issue

0:39
Rockland roofing company founder sentenced in ‘avoidable’ 2022 death of worker

Rockland roofing company founder sentenced in ‘avoidable’ 2022 death of worker

1:50
Fishkill opens new pickleball courts, plans more as craze takes hold

Fishkill opens new pickleball courts, plans more as craze takes hold

0:44
Putnam County brothers convicted in charges stemming from Jan. 6 Capitol riot

Putnam County brothers convicted in charges stemming from Jan. 6 Capitol riot

0:26
Poughkeepsie man convicted of kidnapping, attempted robbery of pregnant woman and children

Poughkeepsie man convicted of kidnapping, attempted robbery of pregnant woman and children

0:23
News 12's Blaise Gomez voted Best of Hudson Valley magazine's 'Best News Anchor' for second year in a row

News 12's Blaise Gomez voted Best of Hudson Valley magazine's 'Best News Anchor' for second year in a row

3:47
White Plains doctor: Get a checkup during National Men’s Health Month

White Plains doctor: Get a checkup during National Men’s Health Month

2:28
India defeats USA in last Nassau Cricket World Cup match

India defeats USA in last Nassau Cricket World Cup match

1:10
Headlines: Murder suspect arrested, burglary arrest in Mamaroneck, drug and weapons charges in Newburgh

Headlines: Murder suspect arrested, burglary arrest in Mamaroneck, drug and weapons charges in Newburgh

1:31
Indian-American fans torn between nations as Cricket World Cup wraps up in Nassau

Indian-American fans torn between nations as Cricket World Cup wraps up in Nassau