House Minority Leader Nancy Pelosi (D-CA) appeared on ABC’s “This Week” on Sunday and told Martha Raddatz that there could be no deal with regards to the “fiscal cliff” unless congressional Republicans agree to increase income-tax rates on the highest income earners.
Raddatz asked Pelosi, “Could you accept a deal that does not include tax rate increases for the wealthy? We have seen talk about a possible compromise that would leave rates the same, but cap deductions for high-income earners. Is that something that’s acceptable?
“No,” said Pelosi.
Asked Raddatz: “Not at all? No way?”
“Well, no,” said Pelosi.
“What you just described is a formula and a blueprint for hampering our future,” Pelosi said a moment later. “You cannot go forward, you have to cut some investments. If you cut too many, you’re hampering growth, you’re hampering education, our investments for the future.
“So just to close loopholes is far too little money,” said Pelosi. “If it’s, and it could be, they have said they want it to be revenue-neutral. If it’s going to bring in revenue, the president has been very clear that the higher-income people have to pay their fair share.”
The problem with this kind of socialistic thinking is that people like Nancy Pelosi and Barack Obama fail to realize that the “rich” as the refer to them are paying their fair share and more. In fact, there is nothing “fair” about the tax code in general. By following this type of ideology they are killing the goose that lays the golden eggs.
A majority of the current House of Representatives and a majority of those that will make up the new House that will convene in January have vowed that they will not raise tax rates on the American people.
In the “lame duck” 112th Congress, which will serve through the end of the year, 238 House members took the Americans for Tax Reform (ATR) pledge, in which they pledged to the taxpayers of their state and the American people generally that they would oppose any and all efforts to increase marginal tax rates.
In the 113th Congress, whose House members were all elected on Nov. 6, 219 House members have taken the ATR pledge. That is still a majority of the House, meaning after the New Year, some House members would need to break their no-tax increase pledge for a tax increase to be enacted.
The pledge that the House members took says: “I, [name of candidate], pledge to the taxpayers of the state of [name of state], 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.”
House Speaker John Boehner also took this pledge, though as I wrote on Saturday, he seems to be caving for political expediency to actually deal with the issue of the “fiscal cliff” before the end of the year and postpone it until 2013.
Now is not the time to back off bombarding your representatives with phone calls, emails and faxes to let them know you will support their efforts to treat all Americans equally in this matter and that you will hold their feet to the fire with regards to their pledge not to raise taxes. In addition, we need to push them on real spending cuts this year.
Watch the segment from ABC’s This Week below:
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