"In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again"
- Barack Obama
About this Quote
In this quote, Barack Obama is referring to the tax cuts for the most affluent Americans that he consented to extend in December. He is saying that he did this in order to avoid a tax walking on middle-class Americans, however that he does not believe it is financially responsible to continue to provide tax cuts for millionaires and billionaires. He is making it clear that he will not renew the tax cuts again, as he thinks it is not affordable. This quote shows Obama's dedication to safeguarding the middle-class and his dedication to financial duty. He wants to make hard choices in order to guarantee that the middle-class is not strained with additional taxes, while also making sure that the government is not spending more than it can afford.