Obama Wants Higher Revenues and Rates -- But Is It a Deal-Breaker

by alexoscarew | November 23, 2012 at 06:14 am

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Right after the election, it was all peaches and cream and conciliatory common-ground language when President Obama met with congressional leaders to discuss the fiscal cliff.

Of course, the president campaigned on tax hikes for the rich, by which he meant raising top income-tax rates and extending the Bush tax cuts for incomes below $200,000. And the president's first meeting post-election was with his union and liberal-interest-group supporters, all of whom want to raise the top rates and then some. But instead, the newly re-elected president spoke about "new ideas," as long as they provided a balance of spending cuts and tax increases on the most successful upper-end earners.