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article imageClinton comes out in support of Republican tax reform

By Michael Krebs     Sep 19, 2011 in Politics
In the wake of President Obama's $447 billion jobs bill and ahead of the White House proposal to increase taxes on the nation's high-income earners, former President Bill Clinton came out in support of Republican tax positions on NBC's 'Meet The Press.'
President Obama has faced an onslaught of Republican criticism for his disinterest in exploring a more uniform and simplified tax code, choosing instead, as GOP strategists see it, to sustain a more complicated and class-oriented tiered structure that leaves a majority of Americans exempt from paying any taxes at all.
Over the past week, the White House has introduced a $447 billion dollar jobs bill, known as the American Jobs Act, and has additionally suggested that federal tax rates be increased for individuals earning $1 million or more to help pay for it and for the larger budget deficit at hand.
"I believe that the Congress should seize the opportunity that this new committee presents, and do much more so that we can put the country on a sustainable fiscal path, which is critical for our long-term economic growth and competitiveness," Obama said in a letter to Congress, according to The Hill. "For this reason, I am sending to the Congress this detailed plan to pay for this jobs bill and realize more than $3 trillion in net deficit reduction over the next ten years."
However, many in Washington DC do not agree with President Obama's plan. In an appearance on NBC's "Meet The Press" on Sunday, former President Bill Clinton, while expressing his sympathy for the position the Obama administration has found itself in, made a point of detailing his support for the Republican Party's tax reform positions.
"I agree, we ought to have corporate tax reform," Clinton said. "I agree that, in this world where there's a lot more competition for manufacturing jobs we've got to lower the rates and broaden the base. I think I would support Senator McConnell's call for a reform of the individual income tax system."
Clinton went on to detail the need for a balance between government spending cuts and excessive government taxation. Mr. Clinton emphasized the need for cooperation and common ground between the two political parties and cited the solutions he is bringing through multiple disciplines and positions in his work on the Clinton Global Initiative.
More about Bill Clinton, Obama, Taxes, Economy, Government spending
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