Over the years, President Obama has not exactly been the model of consistency when it comes to his willingness – or unwillingness – to do tax reform that generates revenue without raising rates. Republicans have proposed a middle ground approach to deficit reduction that pairs serious spending cuts with tax reform that raises revenue while protecting American small businesses – and jobs – from higher tax rates. Unfortunately, the President’s shifting positions on the matter is only adding to the danger of America’s economy falling off the fiscal cliff.
- President Obama every year since 2009: I’d like to limit tax preferences for top earners, including for charitable deductions.
- President Obama in July 2011: Yeah, we can do $800 billion through tax reform, and we’ll figure out the details later.
- President Obama since the election: You know, the math just doesn’t work unless you raise rates. Oh, and I need detail right now.
- President Obama today: Well, okay, the math might technically work. But it’s going to require you to limit tax preferences on things like charitable deductions, and we just can’t do that.