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December 4, 2012 3:07 pm

Obama Insists on Tax Hikes for High Earners

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President Obama on Bloomberg news.

Free Beacon – President Obama on Tuesday said party leaders “will not be able to get a deal” to avert the so-called fiscal cliff unless Republicans agree to raise tax rates on high earners.

“The issue right now, that is relevant, is the acknowledgement that if we’re going to raise revenues that are sufficient to balance with the very tough cuts that we have already made, and the further reforms in entitlements that I’m prepared to make, then we are going back to see the rates on the top two percent go up,” he told Bloomberg News reporter Julianna Goldman.

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