https://hotair.com/headlines/archives/2013/01/04/winning-ugly-obama-and-the-fiscal-cliff/feed/HotAir is the leading conservative blog for breaking news and commentary covering the Biden administration, politics, media, culture, and current elections.en-usTue, 09 Jun 2026 03:54:08 -0400<![CDATA[Obama was reelected on a twofold promise. Part one was to make the wealthy pay their fair share. Part two: fix our debt crisis, which Obama himself has conceded is chiefly driven by entitlement spending. Right or wrong, he’s done part one, according to the standards he laid out in the campaign (although he did want to raise taxes on incomes starting at $200,000 for individuals and $250,000 for couples but settled for $400,000 and $450,000, respectively). The fiscal-cliff deal raises $41 in taxes for every dollar it cuts in spending — not just by raising rates on the wealthy, but also by raising payroll taxes on everyone. The revenues from making the rich pay their fair share will slow the sinking of America into an ocean of debt about as much as throwing all the swizzle sticks off the Titanic would have delayed the inevitable.]]>Fri, 04 Jan 2013 17:10:56 -0500<![CDATA[Allahpundit]]>https://hotair.com/headlines/2013/01/04/winning-ugly-obama-and-the-fiscal-cliff-n98896