I doubt that President Obama will compromise with the House Republicans on anything that might be done to avoid the January 2nd “fiscal cliff” that kicks in with higher taxes for everyone.
Obama has made it clear that increasing the tax rates on “millionaires” is his goal and he made that clear throughout the campaign. The income that would be generated from the increased rates would generate enough money to run the nation for about a week or so at most. In politics perception often trumps reality. And those “millionaires” are mostly middle class folks earning $250,000 or more.
As Chris Cox and Bill Archer, two veterans of the House, chairman of key committees, now in the private sector, wrote in a November 26 Wall Street Journal commentary, “The actual liabilities of the federal government—including Social Security, Medicare, and federal employees’ future retirement benefits—already…
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