Obama admits high taxes kill jobs

ABC News' Sunlen Miller reports:

On a conference call with “Organizing for America” supporters tonight, President Obama explained his compromise with Republicans over tax cuts, saying that the “harm” the economy would suffer was “too great” to be able to afford a fight.

If the middle class tax cuts put in place last decade would have expired, “that would have cost our economy nearly a million jobs,” Obama said.

“All of this would have been damaging to those individual families," he said. "It would have been profoundly damaging to the economy, as well, at a time when, frankly, the economy is growing but we still have very high unemployment.”

Good point, Barack. Does this mean we can count on you to repeal capital gains taxes, death taxes...and even the income tax?


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