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May 25, 2013 -- Updated December 11, 2012 11:17 HKT

Obama Wants Higher Taxes Now


paul@livetradingnews.com
Posted on: Dec 11th, 2012

US President Obama said Monday that he “will not compromise” on his demands that the wealthiest Americans pay more in taxes, digging in on the Key sticking point between the White House and Republicans as they seek a way to avert the “F-Cliff.”

Obama brought his pressure-Congress campaign to the heart of industrial America, taking lines from his re-election bid as the nation inched closer to a perilous economic Cliff.

He said the country cannot afford a “manufactured” crisis and pledged to cheering auto workers that he would fight to extend tax cuts for the middle class before they expire at year’s end. “That is a hit you cannot afford to take,” Obama declared.

Obama’s campaign-style trip to Michigan came 1 day after he and House Speaker John Boehner met privately at the White House.

While neither side would characterize the meeting, the mere fact that the 2 leaders talked face-to-face is seen as progress in negotiations to avoid a series of year-end tax hikes and spending cuts.

Republicans have long opposed Obama’s call for higher tax rates on the wealthy, but some GOP lawmakers are suggesting the party relent on taxes in order to win concessions from the president on changes to benefit programs such as Medicare. Still, Mr. Boehner’s office indicated Monday that the speaker is not ready to take that step.

“The Republican offer made last week remains the Republican offer,” said Brendan Buck, Mr. Boehner’s spokesman, referring to a GOP plan that offered $800-B in new revenue over the next 10 yrs through reducing or eliminating unspecified tax breaks on upper-income earners, but not by raising tax rates.


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Heffernan Capital Management
Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com

Singapore

3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699

 Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

 

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Posted by on Dec 11th, 2012and filed underEconomic News, Latest News, Politics, World News.You can follow any responses to this entry through theRSS 2.0You can skip to the end and leave a response. Pinging is currently not allowed.
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