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Obama Vows Veto for Full Extension of Bush Tax Cuts

In an talk tonight with New Orleans CBS associate WWLTV, President Obama vowed to veto any check that extends a Bush-era tax cuts “across a board,” including for people earning some-more than $200,000 and families above $250,000.

“What if Congress were to extend them for everybody opposite a board, including a wealthy? Would we halt it?” asks WWLTV contributor Karen Swenson.

“I would halt it,” Obama said. “Here’s why: What I’m proposing is that we give a tax break – that we make certain that taxes don’t go adult – on 98 percent of Americans. Ninety-eight percent. But to extend tax breaks for that tip 2 percent of wealthiest Americans would cost us $1 trillion over a subsequent decade. Now during a time when we’re perplexing to move down a deficit, to give me a taxation mangle or Warren Buffet a taxation mangle that costs a trillion dollars and 80 percent of that would go to people who make a million dollars or more, that would meant that we’d have to cut something – so a trillion dollars would be cut out of tyro loan programs for kids going to college, for projects that take caring of a veterans, projects that advantage a seniors.

“That’s not a best approach for us to grow a economy,” he said. “I know Republicans remonstrate with me on this, my opinion is let’s go forward and work on a thing we determine on, that is give 98 percent of Americans and 97 percent of tiny businesses a certainty and confidence that their taxes are not going up, and afterwards we can have a good discuss between now and a choosing over what we do for that tip 2, 3 percent. I’m happy to have that debate, though no need to reason warrant Americans that need some certainty right now.”

Republicans responded coolly Monday to Obama’s call to order usually an prolongation of taxation cuts for middle-income earners while withdrawal a emanate of either to extend rates for earners over $250,000 until after a Nov election.

House Speaker John Boehner, who has pronounced a House will opinion this month to extend stream taxation cuts for everyone, called a president’s devise a taxation travel on tiny business owners and pursuit creators.

“How will these tiny business taxation hikes emanate jobs? Even Democratic congressional leaders and former President Clinton have incited their behind on this proposal,” Boehner said, observant that several high-profile Democrats have damaged with Obama and called for an prolongation of stream rates for everybody though millionaires.

“House Republicans are heading on jobs, and have upheld some-more than 30 jobs bills that a boss and his celebration continue to retard in a Senate,” he said. “This week, we will opinion to dissolution a health caring law that is creation it harder for tiny businesses to grow and hire.

“We have already announced that after this month we will boost mercantile expansion and emanate jobs by preventing a looming, large taxation hikes and providing a fairer, easier taxation formula that lowers rates and closes special seductiveness loopholes,” he said. “President Obama needs to learn that when it comes to jobs and a economy ‘leading from behind’ is not good enough.”

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