Some GOP members conceded that the modest tax increase for the wealthy in the president's budget plan "is not going to break their backs."
Tensions are growing in Washington as the year-end "fiscal cliff" approaches, and in his first press conference since June, President Obama confirmed that he would not compromise on allowing Bush-era tax cuts for the wealthy to expire while extending tax cuts for the middle class.
The president's budget plan would raise $1.6 trillion in revenue, including new revenue from tax increases on Americans making more than $250,000 a year.
Congress could soon reach a familiar gridlock as a combination of tax cuts, spending initiatives and unemployment benefit extensions are set to expire on January 1.
Obama, who is expected to launch Congressional negotiations at the end of the week, said today that Congress must "provide certainty" to middle-class families making less than $250,000 year that their taxes will not go up. After that, Obama said, lawmakers can set a structure to deal with tax reform and entitlements in order to stabilize the deficit.
4 comments:
I'am a Republican and have no problem with a few percentage point for richer Americans, as long as there are spending cuts for double the revenue. We can start with no more foreign aid to Muslim Countries.
How about no more foreign aid to Israel? I find it highly hypocritical for separation of church and state within the U.S. to be of such importance but fund a nation that is based on religion.
If they ARE paying their fair share why care? Worry more about the ones that don't pay anything at all. How long do you think we the tax payers can take care of you? I don't even make 30 thousand dollars a year (Thank GOD I have that),what more do you or anyone want? I pay my taxes, voted, have not had a pay raise in a number of years. I'm not worried about someone who made more then me good for them. If they are not paying their share of taxes, then go after them. I would gladly pay a higher tax just to have $250,000.
Instead of obama doing his job here the goofy SOB's in Thailand talking smack. You can only laugh at the googy SOB. The US has nothing Thailand wants or needs. They are going to continue to import to us and we have nothing to export to them. He's ah ah ah-ing left and right. Seriously this guy is down in the moronic IQ level. Anyone should be embarrassed to admit they voted for him.
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