Tuesday, December 18, 2012

Obama Makes Third Fiscal Cliff Offer

Why not tax rates rising to the level of $1 trillion versus the savings and reduction of useless & redundant government programs plus health care adjustments which also equal $1 trillion?

The US already has the highest corporate tax rates in the world at 40+%. 39.5% rate for those earning $500k+? Debt ceiling out one year moratorium?

The numbers should roughly coincide, and Boehner did Obama a big favor last year by agreeing to put the fiscal negotiations AFTER the presidential elections.

Read all about it in "The Price of Power" by Bob Woodward, who describes the players in the debt ceiling negotiations warts and all. Interestingly, Boehner had Pelosi & Reid & McConnell on board for his plan, but Obama scotched the whole deal & went for the 'fiscal cliff' scenario.

Read the Article at HuffingtonPost

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