Barack Obama

“ On January 1st, taxes are set to go up for tens of millions of Americans. I think that would be a huge financial hit for middle-class families. That’s why I’ve cut middle-class taxes every year that I’ve been President – by $3,600 for the typical family. And that’s why, this week, I called on Congress to immediately stop the January 1st tax hike from hitting any American on the first $250,000 of their income. ”

“ So let’s at least agree to do what we all agree on. That’s what compromise is all about. Let’s not hold the vast majority of Americans and our entire economy hostage while we debate the merits of another tax cut for the wealthy. ”

“ Under my plan, 97% of small business owners would avoid getting hit with any income tax hike whatsoever. In fact, I’ve cut taxes for small businesses eighteen times since I’ve been President. And just this week, I ordered a series of new steps to help our small businesses grow and hire. ”

“ Under my plan, 98% of American families won’t see their income taxes go up at all. But the other 2% of Americans will have to pay a little more in taxes on anything they make over $250,000. In other words, the wealthiest few Americans will go back to the income tax rates they were paying under Bill Clinton. ”