It is unfair Middle Class Americans has to foot the bills and not Millionaires and Billionaires
Myth: Since we weren’t able to raise revenues right now, we won’t be able to raise revenues in the future.
Fact: The deal lays out two paths for further reducing our deficit. Both of them include revenues. Option one is for the joint committee to develop a plan that is passed by both Houses of Congress, and signed by President Obama. The President has already said that he will only support a balanced approach involving shared sacrifice. That means raising revenue through steps such as closing loopholes for corporations, reforming our tax code, and asking millionaires and billionaires to pay their fair share in taxes.
If the joint committee cannot develop a balanced compromise,that brings us to option two for raising revenues: the expiration of the Bush tax cuts. On January 1, 2013, President Obama can use his veto pen to end special tax breaks for high-income Americans if Congress votes to extend them.