Wednesday, May 16, 2012

Bill Clinton: Middle Class wouldn't object to tax hikes; We all must contribute

Speaking at an economic conference in Washington, D.C. on Tuesday, former President Bill Clinton said that tax hikes on the wealthy alone will not solve the government's budgetary problems unless tax rates for the middle class are also increased. Mr. Clinton added that he didn't think Middle Class Americans would object to a tax hike if there was some sort of growth in the economy:
"I don't think it would kill the country, if we had growth, to have the tax rates across... - this is just me now, I'm not speaking for the White House — but I think you could tax me at a 100 percent and you wouldn't balance the budget. We are all going to have to contribute to this, and if middle class people's wages were going up again, and we had some growth to the economy, I don't think they would object to going back to tax rates [from] when I was president."

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