Bill Clinton Rejects Obama’s Millionaire Tax Plan

By:  Brian Koenig
09/26/2011
       
Bill Clinton Rejects Obama’s Millionaire Tax Plan

Former President Bill Clinton says Obama’s approach to taming the federal deficit "is a little confusing" and suggests that raising taxes would blockade any efforts to revive the stale U.S. economy. During an interview with Newsmax CEO Christopher Ruddy in New York, where Clinton held the 10th annual meeting of the Clinton Global Initiative, the former President discussed political topics such as climate change, tax policy, and government regulations. He also mentioned the possibility of his wife, Hillary, running for President in 2016, naming her "the ablest person in my generation."

Clinton conceded to Ruddy that he was somewhat baffled with President Obama’s newly-announced tax plan — the "Buffett Rule" — which would raise taxes on individuals earning over $1 million. "In the speech that the president gave to Congress, he didn’t propose any new taxes. The speech was $250 billion in tax cuts, $250 billion in spending over a period of two to three years. It focused mostly on a rather innovative set of payroll tax cuts and incentives to hire people," Clinton asserted.

Former President Bill Clinton says Obama’s approach to taming the federal deficit "is a little confusing" and suggests that raising taxes would blockade any efforts to revive the stale U.S. economy. During an interview with Newsmax CEO Christopher Ruddy in New York, where Clinton held the 10th annual meeting of the Clinton Global Initiative, the former President discussed political topics such as climate change, tax policy, and government regulations. He also mentioned the possibility of his wife, Hillary, running for President in 2016, naming her "the ablest person in my generation."

Clinton conceded to Ruddy that he was somewhat baffled with President Obama’s newly-announced tax plan — the "Buffett Rule" — which would raise taxes on individuals earning over $1 million. "In the speech that the president gave to Congress, he didn’t propose any new taxes. The speech was $250 billion in tax cuts, $250 billion in spending over a period of two to three years. It focused mostly on a rather innovative set of payroll tax cuts and incentives to hire people," Clinton asserted.

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Photo: President Bill Clinton listens to Michel Martelly, President of the Republic of Haiti, during the Clinton Global Initiative, Sept. 19, 2011 in New York: AP Images

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