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Obama: 'There Is No Doubt We Need Additional Revenue'

4:50 PM, Feb 3, 2013 • By DANIEL HALPER
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In a pre-Super Bowl interview on CBS, President Barack Obama made clear that he intends to raise taxes again:

"There is no doubt we need additional revenue, coupled with smart spending reductions, in order to bring down our deficit," said Obama. "And we can do it in a gradual way so it doesn't have a huge impact. As I said, when you look at some of these deductions that certain folks are able to take advantage of, the average person can't take advantage of them. The average person doesn't have access to Cayman Island accounts, the average person doesn't have access to carried interest income where they end up paying a much lower rate on billions of dollars that they've earned. And so we want to make sure that the whole system is fair, that it's transparent, and that we're reducing our deficit in a way that doesn't hamper growth, reduce the kinds of -- you know, strategies that we need, in order to make sure that we're creating good jobs and a strong middle class."

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