The Rich Will Pay More Taxes, Boehner Says

[Beaverhausen]

http://www.cnn.com/2012/12/05/politics/fiscal-cliff/index.html?sr=fbmain

Washington (CNN) -- Taxes on the wealthy are going up, House Speaker John Boehner conceded Wednesday in challenging President Barack Obama to sit down with him to hammer out a deal for avoiding the fiscal cliff.

Obama, however, continued to insist on Republicans first ensuring no tax hike for anyone but the top 2% of Americans as a first step toward a broader agreement on tackling the nation's chronic federal deficits and debt.

The statements reflected how negotiations on the automatic spending cuts and tax hikes set to occur on January 1 -- the fiscal cliff -- have evolved since Obama's re-election last month.

Republicans once opposed to any new revenue in their quest to shrink government now realize Obama's victory and public support for the president's campaign theme of higher taxes on the wealthy leave them with little negotiating leverage.

[Cleita]

1. Reality settling in through the wine fog in his brain? n/t

[Warpy]

2. The plan is for all the House loonies to vote "present."

However, Boner's control of his party in the House is tenuous at best. It will be interesting to see how many vote against everything despite the order to vote "present."

Too many of them are insane and still don't realize their policies have failed and that their party was handed a resounding defeat last month. They still think they're in charge.

[CTyankee]

4. It is what happens as a result of gerrymandering districts. You begin to think "everybody" agress

with you and become centered in your little universe. A truly perverse way of thinking. Then they wake up and say "what happened?"

[LonePirate]

3. I wonder if the carried interest loophole is one he wants to close. That one is downright criminal.

I wish someone in the press would ask that question.

[democrattotheend]

5. I forget what that is

We must have studied it in tax but my brain is too fried with con law right now to remember. Can you explain it?

[LonePirate]

7. It allows employees at hedge funds, investment firms, etc. to count earned income as capital gains

So instead of paying the top tax rate, they pay only 15% on their salaries\income.

[budkin]

6. He means through closing deductions and loopholes