Washington, D.C. (YBH.ME) - In a move that would be fraught with huge political risk, President Barack Obama has hinted that taxes may be going up for the middle-class.
The President, who made the cornerstone of his 2008 campaign “no new taxes” on the middle-class, could open the door for charges of flip-flopping, or worse outright lying, if he were to raise taxes on those making less than $250,000.
In an interview, due to hit newsstands on Friday, the President said “What I can’t do is to set the thing up where a whole bunch of things are off the table. Some would say we can’t look at entitlements. There are going to be some that say we can’t look at taxes, and pretty soon, you just can’t solve the problem.” The subject at hand was a proposed bipartisan advisory commission on the deficit and whether any constraints would be placed on the commissions agenda.
If taxes are raised it is uncertain whether
Overall the President said he is “agnostic” on the subject of new taxes. The full story will run in the next issue of Bloomberg BusinessWeek.
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John Romano is the publisher and editor of Yes, But However!, a musician, a former political correspondent for BBC Radio London, and a serial web entrepreneur. Follow him on twitter: twitter.com/yesbuthowever or John Romano on Google+John Romano article archive.
