Obama Says He Won't Extend Bush Tax Cuts For Wealthiest Americans
But at the same time, they have said they won't agree to raise tax rates for the wealthy. Boehner arranged a late afternoon news conference in the Capitol to respond to the president's remarks.www.huffingtonpost.com
What Obama said—and didn't say—about tax cuts at today's press conference
2:27 pm: One reporter pointed out that Obama had agreed to extend the Bush tax cuts in 2010, asking why we should expect to ask any differently this time around.www.washingtonpost.com
First Thoughts: Previewing the president's presser
Obama's two promises to the left: 1) $1.6 trillion starting position on revenue, 2) decoupling the Bush tax cuts… The GOP's red line: It doesn't want tax RATES to go up… Decision Day on Capitol Hill for Pelosi, King, and McMorris Rodgers vs. Tom Price…firstread.nbcnews.com
Effects of ending Bush tax cuts
President Obama wants to maintain the "middle class" Bush tax cuts but allow the Bush tax cuts for those making over $250,000 to expire.www.examiner.com
Recap: The Obama Press Conference
That's the second time in the first few minutes of his news conference that Obama has accused the Republicans of holding the middle class "hostage" by resisting raising upper-income tax rates. 1:50 pm; by Peter Nicholas; Edit; Add a Comment. President ...blogs.wsj.com
Geithner, Baucus: Rates must be on the table
But top Democrats aren't budging on tax rates. With the fiscal cliff on the horizon, Treasury Secretary Timothy Geithner was the latest administration official to firmly back President Barack Obama's plan to end Bush-era tax rates for the wealthiest 2 ...www.politico.com
Kristol: 'Mistake' to fight over Bush tax cuts
"The Bush tax rates expire on Dec. 31," he said. "Rates are going up for everyone, if nothing happens. If you think Republicans can win a showdown on preserving all the current Bush tax rates against a president who was just re-elected and gained seats ...www.politico.com
Why the problems with Romneys tax plan could come back to haunt us
Currently, the value of deductions are pegged to your individual tax rate: If you are taxed at 33 percent, your deductions are worth 33 percent of their total value in write-offs.www.washingtonpost.com
Higher Taxes On The Rich Would Barely Dent The Deficit
Obama says it is critical that the rich pay higher taxes, and he has long argued that it was the Bush tax cuts which put us in this mess, since the rich aren't paying their "fair share.seekingalpha.com
Obama wants to focus on rates, not loopholes
... made clear he wants to focus on tax rates - not so much on loopholes and deductions in the tax code. He said he will refuse to extend Bush tax cuts for the wealthy, and that when he caved on that vow in 2010 he made clear it was a "one-time ...www.washingtonpost.com
Obama's Budget Gymnastics
At his news conference, Mr. Obama said it's difficult to see how you make up the cost of extending the top Bush-era tax rates just by closing loopholes and deductions, as Republicans would like to do. "The math doesn't work," he says, echoing Treasury ...blogs.wsj.com
Obama pressing business and labor on fiscal cliff
But at the same time, they have said they won't agree to raise tax rates for the wealthy. Boehner arranged a late afternoon news conference in the Capitol to respond to the president's remarks.www.myfoxny.com
Kristol: A "Mistake" For GOP To Fight Over Bush Tax Rates
BILL KRISTOL: The Bush tax rates expire on Dec. 31. Rates are going up for everyone, if nothing happens. If you think Republicans can win a showdown on preserving all the current Bush tax rates against a president who was just re-elected and gained ...www.realclearpolitics.com
Obama Starts "Fiscal Cliff" Negotiations With Pitch to Raise $1.6 Trillion in ...
Treasury Secretary Timothy F. Geithner and other senior Democrats on Tuesday said Obama would not be willing to maintain the Bush tax rates in exchange for a cap on deductions for households earning more than $250,000 a year, a leading Republican ...www.alternet.org
Geithner Says Higher Tax Rates Key to Deficit Plan
Treasury Sec. Timothy Geithner says that higher tax rates for some Americans are a central part of the White House's deficit-reduction proposal, in an interview with WSJ's David Wessel at the CEO Council in Washington.online.wsj.com
Fiscal Cliff Hostage Situation: Should the Rich Get Soaked?
1, the Bush-era tax cuts on income, capital gains, and dividends will expire and revert to much higher levels, while automatic spending cuts will hit defense contractors and other Republican-friendly industries.www.thedailybeast.com
Obama, Congress to wrangle over budget, taxes, entitlements
The Bush-era tax cuts reduced the top marginal rate for high-income households -- from 39.6 percent to 35 percent -- while also trimming rates for those with lower incomes. But all the cuts are set to expire at year's end. The president has called for ...www.vcstar.com
Examining the Congressional Options For Dealing With The Fiscal Cliff
Rather than remove the restrictions on spending that give rise to half of the negative economic consequences associated with the fiscal cliff, lawmakers may opt instead to attack the other half of the equation, the soon-to-expire Bush tax cuts. After ...www.forbes.com
It's Time to Let the Bush-Era Tax Rates Expire
So I think the Republicans should call Obama's bluff, and accept his offer by agreeing to let all of the Bush-era tax rates expire. Taxes on the "rich" will go back to what they were during the Clinton administration. But so, under this proposal, will ...www.powerlineblog.com
Obama to open talks with $1.6 trillion plan to raise taxes on corporations ...
Meanwhile, Treasury Secretary Timothy F. Geithner and other senior Democrats on Tuesday said Obama would not be willing to maintain the Bush tax rates in exchange for a cap on deductions for households earning more than $250,000 a year, a leading ...www.washingtonpost.com
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