Posted on November 18, 2012

Nancy Pelosi: No Deal Without Tax Increases For Wealthy

RADDATZ: Could you accept a deal that does not include tax rate increases for the wealthy? We've seen talk about a possible compromise that would leave rates the same, but cap deductions for high-income earners. Is that something that's acceptable?



PELOSI: No.



RADDATZ: Not at all? No way?



PELOSI: Well, no, I mean, the president made it very clear in his campaign that there is not enough -- there are not enough -- what you just described is a formula and a blueprint for hampering our future. You cannot go forward -- you have to cut some investments. If you cut too many, you're hampering growth, you're hampering education, our investments for the future.



So just to close loopholes is far too little money, if it's -- and it could be they have said they want it to be revenue-neutral. If it's going to bring in revenue, the president has been very clear that the higher-income people have to pay their fair share.