Former President Bush Attacks Obama's Proposed Tax Increases For The Wealthy
Former President George W. Bush was on the Upper West Side Monday holding a conference on taxes and criticized tax increases for the richest Americans that are supported by President Barack Obama.
Speaking at the New-York Historical Society, the 43rd U.S. president started by saying he is staying out of politics and not weighing in on decisions affecting Obama.
Then he waded into the middle of the Washington thicket, criticizing tax increases at the very same time that Obama was calling for that very thing.
In Obama's case, he was touting the so-called "Buffett Rule," named for billionaire investor Warren Buffett, which requires millionaires pay at least 30 percent of their income in taxes.
"If you raise taxes on the so-called rich, you're really raising taxes on the job creators," said Bush. "And if the goal is private sector growth, you've got to recognize that the best way to create growth is to leave capital in the treasuries of the job creators."
The president isn't concentrating on his predecessor. Instead, speaking at Florida Atlantic University, he is focusing on a top Republican in Congress.
Wisconsin Congressman Paul Ryan, the head of the House of Representatives' Budget Committee, is pushing a plan which slashes government spending and cuts taxes.
"I don't know how many of you are math majors, business majors. You can't pay down a deficit by taking in $4.6 trillion of less money, especially when you're denying that you're going to be making all of these cuts. It doesn't add up," Obama said.
There will be full coverage of this story tonight on "Inside City Hall" at 7 and 10 o'clock.