Tag: fiscal clifffiscal cliff
President Obama has reiterated his call for high earners in the US to pay more in taxes, in his first news conference since winning re-election. He called for quick legislation to rule out tax rises on the first 250.000 dollars of income, but refused to extend cuts for the wealthiest 2%.
A majority of Americans expect the US to go over the fiscal cliff at the beginning of 2013 and would blame Republicans if that happened, according to a poll published Tuesday. On Friday Democrat and Republican congressional leaders are scheduled to begin discussions.
Newly re-elected President Barack Obama said on Friday the wealthy must pay more taxes under any political deal to avert a looming budget crisis. He said Congress must act against the so-called fiscal cliff, a package of tax rises and spending cuts due early next year.