Pelosi: No Deal Without Raising Tax Rates On High Incomes

House Minority Leader Nancy Pelosi (D-CA) categorically rejected a fiscal deal that does not raise tax rates on upper incomes, arguing that "just to close loopholes is far too little money."

Asked Sunday on ABC's "This Week" if she'd accept a deal that would hold tax rates constant but cap deductions for high earners, she said, "No."

"The president made it very clear that there are not enough [deductions] of the sort," she said, calling that approach "a blueprint for hampering our future" because it would require deeper cuts in investments.

On potential reforms to safety net programs like Medicare and Social Security, something Republicans are calling for, she said, "If that means harming beneficiaries, I don't think that's such a good idea."

http://livewire.talkingpointsmemo.com/entry/pelosi-no-deal-without-raising-tax-rates-on

Pelosi: Tax rates must go up on rich
(snip)
When ABC’s Martha Raddatz asked Pelosi in an interview whether she would accept a deal that did not include tax rate hikes for the rich, the House’s top Democrat had a short answer: “No.”

“The president made it very clear in his campaign that there is not enough -- there are not enough resources,” Pelosi said in an interview aired Sunday on ABC's “This Week. “Just to close loopholes is far too little money … If it's going to bring in revenue, the president has been very clear that the higher income people have to pay their fair share.”

http://www.politico.com/blogs/politico-live/2012/11/pelosi-tax-rates-must-go-up-on-rich-149857.html?hp=l4

Pelosi: No fiscal-cliff deal without higher tax rates on the wealthy
video at link
http://thehill.com/video/house/268623-pelosi-no-fiscal-cliff-deal-without-tax-hikes