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When is a tax hike not a tax hike? It depends on what the meaning of the word "i

The Associated Press is out with some interesting reporting on the rhetoric that both sides are using in the debt and spending debate in Washington
Here are a few of the phrases the president has used of late to talk about what amounts to raising taxes for some:

-"We need to take on spending in the tax code."

-"The tax cuts I'm proposing we get rid of are tax breaks for millionaires and billionaires; tax breaks for oil companies and hedge fund managers and corporate jet owners."

-"You can't reduce the deficit to the levels that it needs to be reduced without having some revenue in the mix."

And here's how Republicans respond:

-"Tax hikes on families and job creators would only make things worse." - House Speaker John Boehner.

-"The focus for us is to make sure that we are not increasing taxes on individuals who are the job creators, and like it or not, the job creators are those who can be successful in a small business context." - House Majority Leader Eric Cantor.

-"Democrats seem to think the solution to our debt crisis is to ask taxpayers and struggling businesses to reward their economic stewardship with even more money to spend as they please." - Senate Minority Leader Mitch McConnell

- "What we need to do is to have a balanced approach where everything is on the table."

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Topics : Business_FinancePolitics
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Locations : Washington
People : Eric CantorJohn BoehnerMitch McConnell

07/11/2011 6:42AM
When is a tax hike not a tax hike? It depends on what the meaning of the word "is" is.
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