King Obama Admits: “I Won’t Compromise”

Via ABC News:

Taxes will rise on all Americans in 23 days without bipartisan Congressional intervention. But President Obama and House Republicans are showing little sign of breaking the frosty standoff over the “fiscal cliff.”

Both sides remain at loggerheads over what to do about tax rates for the top two percent of income-earners and the nation’s debt limit.

In his weekly address, Obama says he wants an immediate resolution, but only if Republicans agree to raise the top tax rates on individuals earning $200,000 or more.

“If we’re serious about reducing our deficit while still investing in things like education and research that are important to growing our economy – and if we’re serious about protecting middle-class families – then we’re also going to have to ask the wealthiest Americans to pay higher tax rates,” he says. “That’s one principle I won’t compromise on.

“After all, this was a central question in the election,” Obama adds, alluding to the fact that he won.

Republicans, empowered by post-election control of the House of Representatives, remain equally resolved to prevent rates on the wealthiest Americans from rising.

“Tax increases will not solve our $16 trillion debt. Only economic growth and a reform of entitlement programs will help control the debt,” said Sen. Marco Rubio of Florida in the Republican weekly address.

“We must reform our complicated, uncertain, job-killing tax code, by getting rid of unjustified loopholes,” Rubio said. “But our goal should be to generate new revenue by creating new taxpayers, not new taxes.”

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