Krauthammer: Obama's Presidency Is 'All About' Raising Taxes to Pre-Reagan Levels to Support the Entitlement State
Syndicated columnist Charles Krauthammer shared his thoughts last night on the fiscal cliff bill as the House of Representatives voted 257 to 167 to pass a measure that avoids the fiscal cliff. Krauthammer said the bill is just what President Obama wanted, in that it raises tax rates on people making more than $450,000, puts off spending cuts and extends unemployment benefits.
Bret Baier asked Krauthammer what he thinks about the recommendations made two years ago by the Simpson-Bowles Debt Commission, which have been ignored by the president.
"He's not interested in cutting spending," Krauthammer said, explaining that Obama's second term
is devoted to "undoing Reaganism" and ramping up tax rates on the rich. Krauthammer explained that the president still wants to eliminate tax deductions for the wealthy to bring in even more revenue.
"He has no interest in anything other than raising the level of taxation to pre-Reagan levels so he can support the entitlement state, which is what his presidency is all about. It's a very long view, and I think he's attacking it exactly the right way if you are of his ideology," Krauthammer said.
Watch Krauthammer's commentary: