Both ideas have their merits, and I support a compromise that does both - raise tax rates (to Clinton-era rates (an increase of less than 5%) for the rich (those who make $250K+) while also closing/limiting loopholes. Obama didnt shoot the idea of closing loopholes and deductions, he just said he is not taking off the table increased tax rates for the rich.
Personally an agenda where both sides can incoportate some their ideas is good. I just think raising rates is a bad idea. Boehner pointed out that most of those people paying higher taxes are small business owners who create jobs, and raising taxes would cause them to lay people off.
But make no mistake I'll be satisified with anything that gets us past this mess. Just as long as it's done in the right way.
