“No party has a monopoly on wisdom. No democracy works without compromise. But when Governor Romney and his allies in Congress tell us we can somehow lower our deficit by spending trillions more on new tax breaks for the wealthy - well, you do the math. I refuse to go along with that. And as long as I'm President, I never will.”

— Barack Obama

Last update Sept. 16, 2025. History

Help us to complete the source, original and additional information

Do you have more details about the quote "No party has a monopoly on wisdom. No democracy works without compromise. But when Governor Romney and his allies in Co…" by Barack Obama?

Barack Obama 1158

44th President of the United States of America 1961

Related quotes

“Mitt Romney: Well, but will the people in Nevada not have to pay Nevada sales tax and in addition pay the 9% tax?
Herman Cain: Governor Romney, you're doing the same thing that they're doing. You're mixing apples and oranges. You're going to pay —
Mitt Romney: I'm —
Herman Cain: No, no, no, no. You're going to pay the state sales tax, no matter what.
Mitt Romney: Right.
Herman Cain: Whether you throw out the existing code and you put in our plan, you're still going to pay that. That's apples and oranges.
Mitt Romney: Fine. And I'm going to be getting a bushel basket that has apples and oranges in it because I've got to pay both taxes, and the people in Nevada don't want to pay both taxes.”

Mitt Romney (1947) American businessman and politician

CNN Republican presidential debate, Los Angeles, , quoted in * 2011-10-18
Apples and Oranges: Mitt Rings Cain's Bell
Fox Nation
http://nation.foxnews.com/herman-cain/2011/10/18/apples-and-oranges-mitt-rings-cains-bell
2011-10-23
on Herman Cain's "9-9-9" tax plan
2011

“Unfortunately, the Laffer curve did not work as advertised. Lower tax rates did not produce more tax revenues. They produced deficits.”

Robert Kuttner (1943) American journalist

Source: The Economic Illusion (1984), Chapter 5, Taxes, p. 208
Context: The total impact of the Reagan tax cuts on capital lowered the effective cost of capital to American industry by an estimated 1.2 percent. Unfortunately, the Laffer curve did not work as advertised. Lower tax rates did not produce more tax revenues. They produced deficits.

“When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans. Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”

Ron Paul (1935) American politician and physician

Deficits Make You Poorer http://www.lewrockwell.com/paul/paul238.html (March 15, 2005).
2000s, 2001-2005

“Tax revenues are up 59 percent since 1980. Because of our economic growth? No. During Carter's four years, we had growth of 37.2 percent; Reagan's five years have given us 30.7 percent. The new revenues are due to four giant Republican tax increases since 1981. All republicans rightly chastised Carter for his $38 billion deficit. But they ignore or even defend deficits of $220 billion, as government spending has grown 10.4 percent per year since Reagan took office, while the federal payroll has zoomed by a quarter of a million bureaucrats… big government has been legitimized in a way the Democrats never could have accomplished. It was tragic to listen to Ronald Reagan on the 1986 campaign trail bragging about his high spending on farm subsidies, welfare, warfare, etc… the IRS has grown bigger, richer, more powerful, and more arrogant. In the words of the founders of our country, our government has "sent hither swarms" of tax gatherers "to harass our people and eat out their substance." His officers jailed the innocent George Hansen, with the President refusing to pardon a great American whose only crime was to defend the Constitution. Reagan's new tax "reform" gives even more power to the IRS. Far from making taxes fairer or simpler, it deceitfully raises more revenue for the government to waste… I want to totally disassociate myself from the policies that have given us unprecedented deficits, massive monetary inflation, indiscriminate military spending, an irrational and unconstitutional foreign policy, zooming foreign aid, the exaltation of international banking, and the attack on our personal liberties and privacy.”

Ron Paul (1935) American politician and physician

Letter to chairman of the RNC http://www.textfiles.com/politics/ron_paul.txt Frank Fahrenkopf (March 1987).
1980s

“I was informed this afternoon by the distinguished Secretary of the Treasury that his preliminary estimates indicate that our balance of payments deficit has been reduced from $2.8 billion in 1964 to $1.3 billion, or less, in 1965. This achievement has been made possible by the patriotic voluntary cooperation of businessmen and bankers working with your government. We must now work together with increased urgency to wipe out this balance of payments deficit altogether in the next year. And as our economy surges toward new heights we must increase our vigilance against the inflation which raises the cost of living and which lowers the savings of every family in this land. It is essential, to prevent inflation, that we ask both labor and business to exercise price and wage restraint, and I do so again tonight. I believe it desirable, because of increased military expenditures, that you temporarily restore the automobile and certain telephone excise tax reductions made effective only 12 days ago. Without raising taxes—or even increasing the total tax bill paid—we should move to improve our withholding system so that Americans can more realistically pay as they go, speed up the collection of corporate taxes, and make other necessary simplifications of the tax structure at an early date.”

Lyndon B. Johnson (1908–1973) American politician, 36th president of the United States (in office from 1963 to 1969)

1960s, State of the Union Address (1966)

“Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenue to balance our budget just as it will never produce enough jobs or enough profits. Surely the lesson of the last decade is that budget deficits are not caused by wild-eyed spenders but by slow economic growth and periodic recessions, and any new recession would break all deficit records. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country's own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”

John F. Kennedy (1917–1963) 35th president of the United States of America

Source: 1962, Address and Question and Answer Period at the Economic Club of New York

“Everything that I did as Governor, and everything that I think needs to occur right now in the Federal Government, needs to be a cost-benefit analysis. What are we spending our money on, and what are we getting for what we're spending? I am of the belief that we are on the verge of a financial collapse. We can not repay fourteen trillion dollars in debt if we're spending one point six trillion dollars more than we're taking in this year and years to come. That is not sustainable… We landed on the moon, we can balance the federal budget. And that means cutting forty-three cents out of every federal dollar that we're currently spending.”

Gary Johnson (1953) American politician, businessman, and 29th Governor of New Mexico

Statement from CNN Interview
YouTube
2011-04-21
http://youtu.be/VFf4P20cWmU
2012-02-24
Sound Government

“If president Obama is doing the wrong thing, I'm not going to tell you that he's doing the right thing so I can “support him.””

Cenk Uygur (1970) Turkish-American online news show host

MSNBC Live (29 June 2011)

“I think our nationals won't support us if we have to spend a lot of money to establish ties with one or two new allies.”

Joseph Wu (1954) Taiwanese politician

Joseph Wu (2018) cited in " Taiwan won't try to form diplomatic ties with new allies: FM http://focustaiwan.tw/news/aipl/201805080021.aspx" on Focus Taiwan, 8 May 2018.

“We come more and more frequently into momentary unions, or momentary relations with other parties. But these momentary relations must never become momentary alliances. We must never bind the party. We must always keep our hand free; exploit the conditions; let our opponents do the dirty work for us; and with the goal of the party firmly in mind, keep in the middle of the road, and go our own way, only going along with opposing parties when our way happens to be the same as theirs. That we are a party of the class struggle, who have nothing in common with any other party, and who have to fight and conquer all other parties, in order to attain our goal, is something which we must never for a moment lose sight of.”

Wilhelm Liebknecht (1826–1900) German socialist politician

No Compromise – No Political Trading (1899)

Help us to complete the source, original and additional information

Barack Obama 1158

Related quotes

Related topics