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Obama Presses Stripped-Down Plan to Limit Tax Increase

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By Friday the House and the Senate had closed for the Christmas break, with a new effort to reach a deficit reduction deal likely to start next week.

Quote:

WASHINGTON — President Obama, conceding that a “grand bargain” for deficit reduction with Speaker John A. Boehner is unlikely, called Friday for Congress to approve a stripped-down measure by year’s end to prevent a tax increase for all but the richest taxpayers and to extend aid for two million unemployed Americans.

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“That’s an achievable goal; that can get done in 10 days,” Mr. Obama said to reporters during a hastily scheduled evening appearance in the White House briefing room. “Call me a hopeless optimist,” he added, “but I actually think we can get this done.”

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The president, who took no questions, read his statement just after a brief phone conversation with Mr. Boehner and a separate meeting at the White House with Senator Harry Reid, the Nevada Democrat and Senate majority leader. It was Mr. Boehner’s stinging defeat Thursday night — when rebellious antitax House Republicans blocked a vote on his tax plan, after he had suspended negotiations with Mr. Obama — that forced the president to reach for a fallback strategy with Senate help.

http://www.nytimes.com/2012/12/22/us...ef=todayspaper

Note: December 21, 2012

The only part I care about is retaining the Bush era taxes. The middle class is going to get walloped if these are not retained. Think the recession is bad now? Take more money out of the consumers hands and see how it goes. Toss in paying for Obamacare. In the state of MD the average additional taxes per household if the Bush era taxes are gone is about $60 less per week spending cash. Imagine having over $200 less per month to spend. These idiots in DC need to stop playing games like children trading marbles.

AVG - what you didn't deal with is the "extending unemployment benefits" part. More unpaid for spending for those who can't find jobs - although supposedly unemployment is just drastically dropping...

Taxes have to increase so the giveaways can continue. If we stop the giveaways - then taxes don't need to go up. But the powers that be are beholden to the giveaway.

The fiscal cliff is dealing with legislation passed by Bush reducing taxes. This legislation was not infinite. There was a cut off time. That time is Jan 1st. The unemployed collecting are just a added burden but not the reason.