Tax Clash

Friday, April 15, 2011 - 8:50am

President Obama opens his 2012 campaign talking taxes, and Republicans don't like what they hear.

President Obama, kicking off his 2012 campaign in Chicago, by selling tax increases for the rich.

"We can't afford $1 trillion of tax cuts for folks like me. Not now…not now, now when so many other Americans are struggling," said President Obama.

But Republicans refuse to even consider raising taxes.

Illinois Representative Aaron Shock said, "It's bad policy. All economists know if you want to grow the economy you don't increase taxes on those who make over $250,000 when 70 percent of them are small business owners who create the jobs."

Congress finally passed a budget for this year.

Most Tea Party lawmakers supported it. Three Senate Democrats joined Republicans voting against it.

Today, the House is expected to approve a budget for next year that dramatically cuts Medicare, Medicaid and other public programs.

Texas Representative Lloyd Doggett said, "This budget is not my cup of tea. When Republicans use the term "modernize' or 'reform' what they really mean is less."

Wisconsin Representative Paul Ryan said, "Yes…less spending, less government, less debt."

The next big fight: whether to increase the debt limit we're expected to hit in May and there is one area where Democrats and Republicans agree.

Missouri Senator Claire McCaskill said, "Doing nothing is not an option."

Arizona Senator Jon Kyl agreed saying, "Inaction is not an option."

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