The White House is rejecting a Republican counteroffer aimed at averting the “fiscal cliff,” saying it does not meet what the White House calls “the test of balance.”
White House communications director Dan Pfeiffer says the GOP proposal would lower tax rates for the wealthy and stick the middle class with the bill. He says the plan includes nothing new and provides no details on how it would achieve higher revenues.
The House Republican plan calls for $800 billion in higher tax revenue over 10 years. But it would keep the Bush-era tax cuts in place for all income earners.
Obama has insisted there can be no deal unless Republicans agree to end the tax cuts for families making more than $250,000 a year when they expire in January.
(AP)
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4 Responses
Perhaps they could compromise and combine the Republicans’ spending cuts with the Democrats’ tax increases. That would be fiscally responsible.
The usual compromise in the past have been combine the Republicans’ opposition to taxes with the Democrats’ desire to spend money, which is civil servants today spend half a day working for the taxpayer, and half a day getting paid by the ability of the Treasury to “borrow” money from the Federal Reserve’s “printing press”.
0bama refuses to put forward a deficit-cutting plan of his own. He has never done so. He talks about the House obstructing, but he has not once put forward a detailed plan. What’s more, the Democrats in the Senate have not passed a budget in four years! What is their plan to cut spending? None.
Let the House pass a reasonable bill based on the Simpson-Bowles plan and dare the Senate to reject it, or the President to veto it.
Obama is taking us over the cliff and he ran with the slogan “Forward.” See the problem?
OblamO’s proposal still leaves us with a major deficit of 1.25 trillion a year.
Obama and democrats are economic illiterates!
Obummer refuses to compromise in any way. It’s either his crummy way, or no way. May Hashem have mercy on this country with him in power for the next 4 years.