facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

Source: Obama shows flexibility in ‘cliff’ talks



Published: Tue, December 18, 2012 @ 12:00 a.m.

Associated Press

WASHINGTON

President Barack Obama has agreed to curtail future cost-of-living increases for recipients of Social Security and softened his demand for higher taxes at upper income levels as part of accelerating talks with House Speaker John Boehner to avoid a “fiscal cliff,” people familiar with the talks said Monday.

Speaking a few hours after Obama and Boehner met at the White House, these people said the president now was seeking a higher tax rate beginning at incomes over $400,000, up from the levels of $200,000 for individuals and $250,000 for couples that were cornerstones of his successful campaign for re-election.

Obama’s willingness to reduce future cost-of- living increases in Social Security, government retirement and numerous other programs marked another clear concession to Boehner, although it came with an asterisk. The president wants lower-income recipients to receive protection against any loss from scaling back future cost-of- living increases, these officials said.

Nor did Obama’s offer include raising the age of Medicare eligibility from 65 to 67, a Republican goal that has drawn particularly strong objections from Democratic liberals.

Several officials also said during the day that Boehner’s offer late last week to accept higher tax rates included provisions that would mean higher taxes on investment income and dividends earned by wealthy Americans and also in the estate tax.

The people who described the talks did so on condition of anonymity, citing the secretive nature of the discussions.

The maneuvering is aimed at reaching an agreement that would include cancellation of a scheduled year-end hike in taxes for nearly all wage-earners as well as spending cuts at the Pentagon and in domestic programs across the government.


Comments

1redeye1(4687 comments)posted 1 year, 12 months ago

Typical Obammy wisdom, hurt the people who gave into Social Security by cutting them off from future ( COLA)increases , but take care of the freeloading welfare rats. who have done nothing to get what they are getting now. No way! Let them work for their welfare checks or they get nothing . The people on Social security deserved to be protected more then welfare rats.

Suggest removal:

2papa1(696 comments)posted 1 year, 12 months ago

does boehner realize that he is not the potu? obama won and hopefully he'll act like it. don't take away cola for s.s. recipients. don't cave on raising taxes on the upper 2%, most of them won't even notice the difference. obama was elected to represent the middle class and if he doesn't i will never vote again. even reagan said the super rich have to pay their fair sharel. they used to pay 90% in taxes! going from 35% to 39% should make them happy. send that little man, grover norquist and his delusions of grandeur back to sharon.

Suggest removal:

3redeye1(4687 comments)posted 1 year, 12 months ago

I hope you never vote again PaPa. Its people like you who gave us OBAMMYCARE . Thanks for Nothing!!!!!!

Suggest removal:

476Ytown(1292 comments)posted 1 year, 12 months ago

papa: Do you realize that even if the rich are taxed at 100% it won't work? We don't have an INCOME problem, we have a SPENDING problem. We take in 5 million a day and spend 11 million a day, borrowing 46 cents on every dollar we spend. We can't afford a debt ceiling increase. We're all going to have to sacrifice - that's where "fair" is going to happen.

http://www.usdebtclock.org/

Suggest removal:


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes