Republican Corker expresses support for raising tax rates
December 9th, 2012
11:39 AM ET
1 year ago

Republican Corker expresses support for raising tax rates

(CNN) - Another Republican senator said Sunday he'd support raising tax rates on wealthy Americans as part of a deal to avoid the year-end fiscal cliff.

Sen. Bob Corker of Tennessee said if Republicans agree to raising rates on the top 2% of American earners, they will be better positioned to negotiate for larger spending cuts to Social Security and Medicare, which many Democrats oppose.

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"There is a growing group of folks that are looking at this and realizing that we don't have a lot of cards on the tax issue before year end," Corker said on "Fox News Sunday."

"A lot of people are putting forth a theory, and I actually think it has merit, where you go ahead and give the president the 2% increase that he is talking about, the rate increase on the top 2%, and all of a sudden the shift goes back to entitlements."

Corker follows fellow Republican Sens. Tom Coburn, Susan Collins and Olympia Snowe in supporting an increase in tax rates for wealthy Americans. Collins and Snowe both said last week they would only support such a hike if a caveat is included that would protect small-business owners who include their business income on their personal tax returns.

Coburn reiterated his position Sunday, saying on ABC's "This Week" he would "accept a tax increase as a part of a deal to actually solve our problems."

But the Oklahoma Republican said the real negotiating should be taking place between the president and bondholders in China who he said would "determine what we'll spend and what we won't."

"It doesn't really matter what happens at the end of this year," Coburn said, predicting that the United States was already on track for another credit rating downgrade because of the political haggling over a debt reduction deal.

"The fact is we're spending money that we don't have on things that we don't absolutely need, and there are no grown-ups in Washington that will say, 'Time out, stop the politics, let's have a compromise' rather than continue to play the game through the press and hurt the country," he said.

Principal negotiations on avoiding the fiscal cliff are largely between the White House and House Speaker John Boehner, who leads the Republican-controlled House of Representatives. Democrats control the Senate.


Filed under: Fiscal Cliff
soundoff (40 Responses)
  1. Gurgyl

    Good man...

    December 9, 2012 11:40 am at 11:40 am |
  2. jpmichigan

    Raise the tax on those who make $200,000 to $250,000, but that's it . Wait next year to do anything else. Don't play Obama game . Everyday he or the Democrats add something else to the mix. Those who receive unemployment check ,a clear majority would rather live on $250 to 300 a week then take a job. Make sure you have conditions , with tax raising in written with the Democrats.

    December 9, 2012 11:46 am at 11:46 am |
  3. vic , nashville ,tn

    Rep. Marsha Blackburn didn’t want to raise tax Sen. Bob Corker ok to raise tax , both represent my state Tennessee
    The fact is Sen. Bob Corker is rich, he knows what he is talking, and he is willing to pay more tax I appreciate his decision

    December 9, 2012 11:58 am at 11:58 am |
  4. Larry L

    @jpmichigan

    Raise the tax on those who make $200,000 to $250,000, but that's it . Wait next year to do anything else. Don't play Obama game . Everyday he or the Democrats add something else to the mix. Those who receive unemployment check ,a clear majority would rather live on $250 to 300 a week then take a job. Make sure you have conditions , with tax raising in written with the Democrats.
    ================================================================================================
    You need to be reminded it was a Republican Administration under Reagan that tripled the debt. It was a Republican Administration under Bush that practiced cut & spend economics – including two un-funded wars. President George H. W. Bush raised taxes to help us recover. It was Clinton who actually produced a surplus in an economy w/o the Bush tax cuts. Use math rather than hatred and you'll offer a better argument.

    December 9, 2012 12:03 pm at 12:03 pm |
  5. Thomas

    Corker follows fellow Republican Sens. Tom Coburn, Susan Collins and Olympia Snowe in supporting an increase in tax rates for wealthy Americans.

    Definition of Surender : To join the winning side !

    December 9, 2012 12:04 pm at 12:04 pm |
  6. glennrobert

    Leave social security alone. Yes, medicare has serious problems. At what point did we decide we don't have to tax our selves? Not one dime paid for two wars. Are we going to repudiate 17 trillion in debt or tend to business and pay it?

    December 9, 2012 12:09 pm at 12:09 pm |
  7. e

    It is going to happen sooner or later.No one.no family.no city.no state.no country can continue living on borrowed moneys and spending money that is not there for ever.Bonds are just an empty promise.I think quit spending pay off debts and when the smoke clears we can help others.We can not give what we do not have.!!

    December 9, 2012 12:10 pm at 12:10 pm |
  8. MEC

    Vote his RINO butt out of office; Let the "fiscal cliff" happen; Obama and the democrats will own it regardless how much they then blame the republicans. Why help Obama and the democrats look good? Do you believe he/they will commend the republicans for saving the day?

    December 9, 2012 12:13 pm at 12:13 pm |
  9. joe the plumber

    Larry L:. Please stop with your Liberal talking points "two un-funded wars" Wars when initiated, are never fully funded. The total for the war during the Bush years was less than 1 Trillion dollars. But we have now over 16 trillion dollars in dept. The debt was 10.2 trillion when Bush left office in 2008, that means that Obama raised the debt nearly 6 trillion in just 4 years? Now he wants to raise taxes on people who create jobs which will amount to 7 days of running the government? What are you crazy ! This is flat out class warfare and is typical of a liberal thought process. Let's punish the losers without thinking how it will affect the economy. Good grief!

    December 9, 2012 12:15 pm at 12:15 pm |
  10. CB FL

    What they starting to realize is we go over the cliff all tax rates go up. The stock market takes a big hit. The 2% will lose more in a few days than there tax rate would increase. Plus they only pay 15% on the market compared to the 39.6%. Do the math.

    December 9, 2012 12:17 pm at 12:17 pm |
  11. MaryM

    Good for you Senator Corker. Now , help the other congressmen/women get some work done

    December 9, 2012 12:17 pm at 12:17 pm |
  12. poopmeister

    Just do it already! Fiscal cliff won't kill us but will create uncertainty and we don't need that right now. The president threw out a all inclusive deal that favored Democrats on purpose, now it's in the GOP's court to come back with a counter offer but it has to be one with tax increases....no if's and's or but's. The day after the election the Republicans should have drafted a deal that included rate increases on the wealthy....duh, they knew it was coming, they should have been prepared....the president sure was!

    December 9, 2012 12:19 pm at 12:19 pm |
  13. Joel

    Joe the Plumber – make those numbers up out of thin air, didya?

    December 9, 2012 12:24 pm at 12:24 pm |
  14. tony

    You need to be reminded it was a Republican Administration under Reagan that tripled the debt. It was a Republican Administration under Bush that practiced cut & spend economics – including two un-funded wars. President George H. W. Bush raised taxes to help us recover. It was Clinton who actually produced a surplus in an economy w/o the Bush tax cuts. Use math rather than hatred and you'll offer a better argument.

    You need to be reminded that when Reagan came in our military was far behind and our soldiers were actually receiving welfare because their paychecks were so low they could not support themselves or their families. So yes after giving the most deserving men and women in the world a pay raise and ensuring they have the best equipment available it may very well have. Also do you not remember September 11,2001? That is why we went into Afghanistan. Also I love the hypocrisy of liberals. You preach about humanitarian issues only when it benefits you. Saddam Hussein and his sons were not by any means upstanding men who cared about their people. Also as noone else ever seems to recall we did go into Iraq for more than one reason, but the left media refused to accept that fact. We will go after terrorists and any government who supports and harbors them. Our soldiers did find the slaughter houses that the Hussein cowards used. They did find the mirage jets. They did find the paperwork that Saddam was working on chemical and biological warfare. Saddam was sending $25,000.00 checks to the "families" of suicide bombers. There is enough we did find for the UN to declare war on any nation just for humanitarian issues alone.

    December 9, 2012 12:26 pm at 12:26 pm |
  15. ST

    If you can not beat him, join him. Wiser republicans see this. Those who are pretending to be blind, must get prepared to face consequences.

    December 9, 2012 12:28 pm at 12:28 pm |
  16. vic , nashville ,tn

    @ joe the plumber “The total for the war during the Bush years was less than 1 Trillion dollars.”
    We don’t know the real cost of the wars and technically we have to fund two wars for another 50 years
    Usually if there is war there is tax increase but Bush and Cheney were started two wars with tax cut that will cost trillions
    Obama spending is an investment on America one day it will pay back

    December 9, 2012 12:37 pm at 12:37 pm |
  17. bcrunner

    Joe the plumber!! Interesting that you're asking Larry to stop with the "Liberal" talking points!! The wars cost less than 1 Trillion? What kind of fussy math are you practicing? Even if President Obama stopped the wars the day he took office, trillions were already spent!! And, what about the financial collapse that happened on his watch? How many trillions did that cost the economy? Please remember that the budget for 2009 was 1.3 Trillion deficit spending.. and since then President Obama has brought it down... I think this year it will be less than 1 trilllion this year. If we cut the budget by 1 trillion a year, which many of you wanted, can you imagine what the unemployment rate would be today?? But math is not one of your strengths... is it? You are, of course Joe the plumber....

    December 9, 2012 12:38 pm at 12:38 pm |
  18. Name

    If Obama wants to control expenses, he should start in the White House. Stop these expensive trips at taxpayers money. Curtail foreign aids unless in dire necessity of life and death. Do not raise taxes of the people who creates jobs lest they will withdraw their and bank somewhere else.
    I have worked with this company for over ten years. We have been given notice to a parttime conversion. Wake up everyone, know the ones who will provide kobs. It is not Obama. It is these weslthy people who owns the companies.

    December 9, 2012 12:39 pm at 12:39 pm |
  19. bcrunner

    Correction above. I meant to say "I think this year it will be less than 1 trillion this year in deficit spending"

    December 9, 2012 12:41 pm at 12:41 pm |
  20. Ex-Marylander

    @Thomas: It's not "surender" or even surrender. It's called compromise for the benefit of the country-as in country before party. Wanna go over the cliff? Keep using terms like you're doing!

    December 9, 2012 12:41 pm at 12:41 pm |
  21. plain&simple

    Another smart senator trying to teach the children of political maneuvering how to grow up and get things accomplished. This is called governing! Earning your pay and putting country first. Isolate the radicals of the party and show the country who they are and watch them wither away like the weeds they are!!!!

    December 9, 2012 12:45 pm at 12:45 pm |
  22. Tim

    Republicans are really good at whining about debt when they're in the minority and then piling it on when they get control. Those of us who don't get our opinions from cable news and have memories that extend beyond the last news cycle find the GOP's constant finger pointing indicative of their unsuitability to lead the country.

    December 9, 2012 12:50 pm at 12:50 pm |
  23. WhereIsPalin

    Why the hesitancy to raise taxes on the wealthy? Are they going to ask for paycuts? Are they going to stop being wealthy?

    December 9, 2012 12:50 pm at 12:50 pm |
  24. Flip-floppers

    They are afraid of 2014 midterms, that's why they're flip-flopping. It's called 'survival.'

    December 9, 2012 01:02 pm at 1:02 pm |
  25. Thomas

    Ex-Marylander
    @Thomas: It's not "surender" or even surrender. It's called compromise for the benefit of the country-as in country before party. Wanna go over the cliff? Keep using terms like you're doing!

    ====

    Ok ,
    compromise , for the sake of the country .

    Face and Ego are included .

    December 9, 2012 01:18 pm at 1:18 pm |
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