John Boehner: Raise Taxes on the Rich

By Terence P. Jeffrey | December 6, 2012 | 10:05am EST

Speaker John Boehner and President Barack Obama at the White House on Nov. 16, 2012. (AP Photo/Carolyn Kaster)

( - House Speaker John Boehner (R.-Ohio) said at a press conference on Wednesday that House Republican leaders now share President Barack Obama’s goal of raising taxes on the rich, they just want to do it by reducing tax deductions rather than raising tax rates.

“America faces a very serious problem,” said Boehner. “And our goal is to make sure it gets solved. We have a debt problem that is out of control. We've got to cut spending and I believe that it's appropriate to put revenues on the table.

“Now,” said Boehner, “the revenues we're putting on the table are going to come from guess who? The rich!

“Now there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy,” said Boehner.

“Listen, our members believe strongly that raising tax rates will hurt the economy,” said Boehner. “Closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising rates, because raising rates will hurt the very people that we're expecting to help create jobs in our country.”

President Obama has insisted that the tax rates must be increased now on Americans who earn more than $250,000.

Boehner has taken the Americans for Tax Reform pledge to the American people, promising Americans that he will oppose all efforts to raise tax rates or reduce deductions and credits unless those those reductions are equaled out by new cuts in the tax rates.

The pledge said: “I, John Boehner, pledge to the taxpayers of the 8th District of the state of Ohio, and to the American people that I will: One, oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses; and two, oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates.”

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