In addressing the White House press corps today, President Obama made it very clear that, in his view, we cannot afford to extend the Bush tax cuts for the wealthiest Americans.

He was then asked if closing loopholes instead of raising rates would satisfy him. The president responded that we should look at how we can make the process of deductions and filing easier. “When it comes to the top 2 percent, what I’m not going to do is extend further a tax cut for folks who don’t need it which would cost close to a trillion dollars.

He continued, "This shouldn’t be a surprise to anybody.

If there was one thing everybody understood, was a big difference between myself and Mr. Romney, it was when it comes to how we reduce our deficit, I argued for a balanced responsible approach, and part of that included that the wealthiest Americans pay a little bit more. I think every voter out there understood that that was an important debate and the majority of voters agreed with me. More voters agreed with me on this issue than voted for me."