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Obama: "Taxes Are Going Up One Way Or The Other"

"Taxes are going to go up one way or the other," President Obama said in an interview with ABC's Barbara Walters. "And I think the key is to make sure that taxes go up on high-end individuals like you and me, Barbara, we can afford it."

"I'm pretty confident that Republicans would not hold middle class taxes hostage to trying to protect tax cuts for high-income individuals," Obama said about going off the cliff.

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