President Barack Obama says more taxes on rich only option on deficit WASHINGTON President Barack Obama, laying down his marker for grueling "fiscal cliff" negotiations, said Friday he won't accept any approach to federal deficit reduction that doesn't ask the wealthy to pay more in taxes. "This was a central question during the election," Obama said in his first postelection comments on the economy. "The majority of Americans agree with my approach."Of course they do. It's just like two wolves and a sheep voting on what to have for dinner.