November 28th, 2012
07:22 PM ET
7 months ago

Blankfein says he wouldn't 'preclude' a raise in tax rates

(CNN) – Goldman Sachs CEO Lloyd Blankfein said Wednesday he'd be open to moving the top marginal tax rate for families making above $250,000 a year from 35% to the Clinton-era level of 39.6% if it was an essential step to avoid the fiscal cliff.

"I think if that's what it took to make the math work, when you looked at the entitlement side and when you looked at the revenue side, I wouldn't preclude that," Blankfein said on CNN's "The Situation Room." "I think it's better to have as low a marginal rate as possible ... but if we had to lift up the marginal rate, I would do that."

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soundoff (7 Responses)
  1. Larry L

    He's on the list of people we need approval from to set our tax rates? I thought Grover Norquist made all of those decisions...

    November 28, 2012 07:41 pm at 7:41 pm |
  2. Debbie

    In other words the GOP is representing Blankfein v constituents. It's what Blankfein would do and that's what the GOP will do not what they were elected to do. It's an unsigned pledge to an entity that is not a representatives constituents.

    November 28, 2012 07:49 pm at 7:49 pm |
  3. Marie

    This from one of the treasonous clowns who nearly drove our country into another great depression and whose behind we the American people saved after he assisted in cheating and manipulating how many hard working American's out of their 401ks and other savings? Karma can't catch up to this one fast enough.

    November 28, 2012 07:52 pm at 7:52 pm |
  4. DENNA

    Wow. Common sense is slowly seeping into the GOP. Now if Boehner, Cantor and some of the other Tea Party toadies would tell Grover Norquist to take a long walk on a short pier, things might get done.

    November 28, 2012 08:24 pm at 8:24 pm |
  5. plain&simple

    Obama gambled when he orchestrated this fiscal cliff agreement with republicans. He gambled he would win reelection and republicans in their arrogance figured no chance of that...when we win we'll do what we want and away we go!! Now they are in a corner with only one way out....to put the working class and the masses first. Obama outsmarted them AGAIN!!!

    November 28, 2012 08:26 pm at 8:26 pm |
  6. S.B. Stein E.B. NJ

    We need the revenue to slow down the debt. There also needs to be some review of how the spending for Social Security, Medicare and the DoD is done. All of them need to be accountable and changed based on the changing dynamic (social and world threat situation).

    November 28, 2012 09:36 pm at 9:36 pm |
  7. J.V.Hodgson

    BlANKFEIN, BUFFET AND MANY RICH OTHERS SAY IN THESE CIRCUMSTANCES A RICH TAX INCEASE WORKS. NO PROBLEM. problem as usual republican stupid illegal pledges and ideology overtake reasonable ness and compromise. All we have from republicans is the need for Austerity belly ache and talk. I voted dem but am not avers to a sesnaible revies of government spending and entitlements to contribute to debt management... but will not move one inch this time until republicans give way on taxes. tied that once anf fiscal cliff is coming and i hear nothing other tha no tax increses from republicans... Ok back to the budget act. enough of thos political nonsense cliffhanging come up with you spolutions Republicans and stop asking th apresident to legislate for a republican majority house His leadership is Ove 250K pays higher ta rates and PPACA undermining is not a spending or entitlement cuts item, if so he will veto. o work around that " leadrship" and get on with it, on both he has a voter mandate accross the board.
    Regads,
    Hodgson

    November 29, 2012 04:49 am at 4:49 am |