Robert Wolf, Obama's Top Wall Street Ally, Endorses Tax Hikes For Rich

Wall Street's hostility toward President Barack Obama has been playing out for years in the form of extreme rhetoric and lopsided campaign contributions benefitting Mitt Romney. But Obama's reelection has amplified the voice of his top ally in the financier class, who is now struggling to remind his banking brethren that the president largely agrees with them on most public policy issues.


In an interview with HuffPost Live, Robert Wolf, former chairman of the Americas for Swiss banking giant UBS, said that the election should end the verbal abuse directed toward Obama, and that most financiers are generally sympathetic to Obama's policy platform -- including a deficit reduction plan that pairs spending cuts with tax increases.
"I would say as a guy who is probably the closest advisor to the president who was on Wall Street, I would say that during campaign season there is always a lot of rhetoric back and forth. The campaign is over, the country has spoken and the President has won," Wolf said. "Wall Street and the president align on many things. One, we all believe that there needs to be fiscal responsibility and everyone is in favor of having a fiscal deal that is balanced. I think if you asked Wall Street today, 'Do you think revenue should be on the table?, the answer would be, I would say 99 percent of the people would say, 'yes.'"


Oh boy looks like some rich fellas are agreeing that there should be Tax increases with revenue cuts...HOW BOUT THAT 99%


Robert Wolf, Obama's Top Wall Street Ally, Endorses Tax Hikes For Rich

When the rest of wall street or at least a majority agree then I will be impressed.

A Swiss banker advocating for Obama's tax policy.....I can see that.

Additional revenue will pull more money out of the economy, in essence "cooling" it... which we're actually going to need in a couple years once inflation starts to run away.