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IBD | Cliff Deal Only Whets Obama’s Appetite For More Taxes

But as the fiscal cliff agreement looked increasingly likely, Obama started  talking more specifically about additional tax hikes. On Monday, he told a White  House rally that "revenues have to be part of the equation in turning off the  sequester."

Translation: If Republicans want to prevent devastating defense cuts from  automatically kicking in two months from now, they’ll have to choke down another  round of tax hikes.

And he made it clear any future deficit cuts will have to include still more  new taxes. "If Republicans think that I will finish the job of deficit reduction  through spending cuts alone," he said, "then they’ve got another thing  coming."

Then, after the agreement had been signed on Tuesday, he talked about how  "cutting spending has to go hand-in-hand with further reforms to our tax code"  that take more money from "the wealthiest corporations and individuals."

So, after getting a deal that includes only tax hikes and no spending cuts,  Obama will demand that any future spending cuts come with still more new  taxes.


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