Dec 9, 2012 No Comments ›› Chuck Biscuits
Excerpted From Briefing Room: Sen. Bob Corker (R-Tenn.) on Sunday joined a growing chorus of Republicans who are open to higher tax rates for the richest Americans as part of a deal to avoid the “fiscal cliff.”
Corker, a member of the Senate Banking Committee, told “Fox News Sunday” that Democrats have the upper hand following the election. He said he was optimistic Congress would strike a deal within the next 23 days, even if it means agreeing to President Obama’s plan to increase the top rate on individuals making more than $250,000 a year.
“A lot of people are putting forth a theory – and I actually think it has merit – where you go and you give the president the 2 percent increase that he’s talking about, the rate increase on the top 2 percent – and all of a sudden the shift goes back to entitlements,” Corker said. “And all of a sudden, once you give him a top rate on the 2 percent it’s actually a much lesser tax increase than what he’s been talking about.
“I actually am beginning to believe that is the best route for us to take,” Corker said, “to again shift the focus to where it needs to be, which is entitlements.”