Sen. Paul: Fiscal Cliff Deal Likely To Include Tax Increases
LEXINGTON, Ky. - Kentucky’s Jr. Senator Rand Paul is joining a growing group of Republicans who say they anticipate a deal to avoid the so-called Fiscal Cliff will include higher taxes on the top two percent of earners.
Senator Paul is not among the Republicans softening their opposition to tax increases, but the lawmaker is predicting President Obama will make good on his pledge to raise tax rates on the wealthy. Paul made the comments as part of a speech during a Commerce Lexington Public Policy Luncheon Friday. The senator said he remains steadfast in his opposition to tax increases on any group.
"I think the tax rates on the rich are probably going up. I think it will be counterproductive in the sense that I think raising the rates on the rich will actually bring in less revenue," Sen. Paul said.
Paul devoted the majority of his address to the Fiscal Cliff, which he said is less of a crisis than the nation’s growing debt.