Steny Hoyer – Hey! Lets raise taxes to lower the debt

democrat-logoI got a better idea you liberal progressive leeches. STOP THE SPENDING! According to The Hill, Tax increases may be necessary to rein in $12 trillion in federal debt, House Majority Leader Steny Hoyer (D-Md.) said Monday. Hoyer emphasized the need to reform Social Security and Medicare, but also made it clear that raising taxes will have to be on the table.

“No one likes raising revenue, and understandably so,” Hoyer said in an address at the Brookings Institution. “But if you’re going to buy, you need to pay.

“If need be, I am hopeful that both parties will agree to look at revenues as part of the solution — not as a gateway to higher spending, but as part of a compromise that cuts spending and balances the budget,” he added.

President Barack Obama has promised he will not raise taxes on families with incomes less than $250,000.

Hoyer, who is seen as a voice for centrists in the House leadership, said the only way to win political support for reining in record debt is with both spending cuts and tax increases.

“It seems to me that the only solution that can win the support of both parties is a balanced approach: one that cuts some spending and raises some revenue while avoiding extremes in either direction,” he said.

This year’s deficit is expected to hit $1.6 trillion, and annual deficits are expected to average $850 billion over the next decade.

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March 1, 2010 · Filed Under General Politics


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