House Speaker John Boehner has offered to include higher tax rates on the wealthiest Americans as part of a deficit-reduction deal to avoid the fiscal cliff, a source close to the talks confirmed to CNN on Saturday.
The latest twist in the negotiations, first reported by Politico, indicates a possible breakthrough in the protracted efforts to forge a deal to reduce the nation's chronic federal deficits and debt.
According to the source, who spoke on condition of not being identified further, Boehner proposed allowing tax rates on income over $1 million to return to higher rates of the 1990s while extending current reduced rates for all income up to that threshold.
However, Boehner's spokesman said no deal had been reached, though communication continues with the White House.FULL STORY
Sorry we are too preoccupied with tragedies in America to worry about your financial cliff
A million or more he says? Well now how generous and condescending is that?? What a bozo!
How about just a flat tax on everything that is purchased then everyone will be taxed equally?
When you've never been to the other side of the world, where real Americans work and try to make a better life for their children is too far fetched from his brain, may God have mercy on him
@chrissy well said flat tax
You wouldn't need a flat tax if govt could just flat line spending instead of kiting checks on money they don't have.
Legalize pot in the whole country and receive 25% tax revenue it's could be 1 trillion dollars alone
Rather than just talk about how sad and tragic this is, let's get some meaningful gun laws in place! Let's start acting, congress!!!!
Very true @ laxman, but getting them to agree is another thing altogether! Theyre all too worried about their special interest groups! Gotta win that next election doncha know, no matter what cost to our country! And amen @ the Prophet! 😉
ditto the prophet. maybe then we could afford armed security at all schools. i grieve & cry for the families & community. in reporting, they always forget us. Heath High School, Paducah, Ky. two years before Columbine. 3 dead, 5 wounded by a 14 yr old boy with his father's guns.
Boehner & Cantor hope to get major benefit reductions for those who work for decades, having Social Security & Medicare deducted from their paychecks, in return for a minor increase in the tax rate for the wealthiest Americans.
These Republicans are such hypocrites! During the Presidential campaign they tried to scare seniors with the modest increases in projected Medicare spending, characterizing them as "Medicare cuts", and now they want to make significant cuts to that program. Hopefully the "low information voter" will be paying attention this time.
I'd say, let the sequester happen. Yes, I suspect the economists are right, that it WILL produce a mild recession, but I also suspect that the private sector will adjust and the markets will drop, then take off, with the certainty and with us actually paying down our debt. Let's get real, we won't make significant progress with our fiscal problems without some pain.
@ cnn, any particular reason my on topic posts are being deleted today? Or is it because i hit a little close to home with you people, being part of the l% ers i mean.
Good morning all.
Would it really be a mild recession @ejr ? I think the ripple effect in tandem with what we are already going thru would be rather serious.
GOP is doing just what they have been doing all along looking after themselves, lobbies & special interest as @chrissy said.
Thank you Mr.Boehner for deciding for a moment to come down from your 'perch' to talk. So after all you are capable of doing that besides saying 'no' and having a thought. lol
Some of mine were blocked on other threads @chrissy. Now a 'normal' with CNN.
By the way Mr.Boehner how about telling us the American public about you folks trying to get tax payers $680 million to Israel on the sly??
Or does that money get printed somewhere else and has nothing to do with us?
I agree. Most of us can hardly afford buying Santa and they are giving away kazillions.