News Article

AP sources: New Obama offer moves toward Boehner | CNS News

Via cnsnews.com » Submitted On Tue, 12/18/2012 - 10:06am by Norman Wolfe

Legislator: Rep. John A. Boehner

Issue: Tax Reform

WASHINGTON (AP) - President Barack Obama has agreed to curtail future cost-of-living increases for recipients of Social Security and softened his demand for higher taxes at upper income levels as part of accelerating talks with House Speaker John Boehner to avoid a "fiscal cliff," people familiar with the talks said Monday.

Speaking a few hours after Obama and Boehner met at the White House, these people said the president was now seeking a higher tax rate beginning at incomes over $400,000, up from the levels of $200,000 for individuals and $250,000 for couples that were cornerstones of his successful campaign for re-election.

Obama's willingness to reduce future cost-of-living increases in Social Security, government retirement and numerous other programs marked another clear concession to Boehner, although it came with an asterisk. The president wants lower-income recipients to receive protection against any loss from scaling back future cost-of-living increases, these officials said.

Nor did Obama's offer include raising the age of Medicare eligibility from 65 to 67, a Republican goal that has drawn particularly strong objections from Democratic liberals.

Comments

Once again, raising taxes in return for vague promises of savings by "reducing the rate of increase."
Will they ever learn? (sigh)

1 year 11 months ago

I think the President needs to go higher in income for tax increase to at least $500,000 or $700,000 would even be better. He also needs to make more spending cuts.

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1 year 11 months ago

I couldn't agree more Leah, maybe you should be up in DC brokering the deal.

1 year 11 months ago

I don't think we should be raising RATES on ANYONE, because of the perverse effect it has on businesses and tax-avoidance activities. And even reducing deductions for high-earners to increase revenues is a "less-bad" but flawed policy.

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1 year 11 months ago
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