From the press conference that is still going, “I don’t think it’s real radical” to ask corporate jet owners and millionaires to pay higher taxes, Obama said. “No-one wants to see the U.S default.”

And then:

You can’t reduce debt levels without… increasing revenue in some way,” Obama said. “That revenue is coming out of folks who are doing extraordinarily well, and enjoying the lowest tax rates since before I was born. If you are a wealthy CEO or hedge fund manager in America right now, your taxes are lower than they have ever been.”

[via BI, NYT]

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