Possible Fiscal Cliff Savior: Semantics
Wealthy can pay more, even if tax rates don't rise
By John Johnson, Newser Staff
Posted Nov 9, 2012 2:30 PM CST
House Speaker John Boehner of Ohio calls on a reporter during a news conference on Capitol Hill Friday.   (AP Photo/Susan Walsh)

(Newser) – It sure sounds like President Obama and John Boehner are at loggerheads when it comes to a deal to avert the fiscal cliff: Obama insists the richest Americans must pay more in taxes, while Boehner says the House will never approve a rate increase. But therein lies the wiggle room:

  • Washington Post: "Notably, Obama did not say rates must rise on upper-income Americans—only that they must pay more in taxes—leaving room for a potential compromise."

Meaning, they might be able to figure out a deal that requires the wealthy to pay more without jacking rates.

  • The Hill elaborates: "Both have talked about raising tax revenue without raising rates, but it is unclear whether this would forbid higher tax rates on investment income such as capital gains and dividends, or on the estate tax."
  • Politico, too: "The president didn’t call for higher tax rates on the rich, just on raising more revenues from them, which could be done by eliminating loopholes and deductions."
  • New York Times: Any deal "now revolves around the definition of tax increases. Mr. Boehner is holding the line against any increase in tax rates, even for the richest Americans that currently are in the 35 percent tax bracket. But he is leaving open the possibility of a reformed tax code that does raise more revenue than the existing code."

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Derni
Nov 10, 2012 5:29 PM CST
Congress approval rating =14 % the worst..We storm the capital and demand their resignations and get people in that actually want to work for the 98% of us..enough is enough. We pay them for what ? to protect the plutocracy? we live another form of slavery..we're slaves to the 1%..we have not had a raise (real raise) in 15 years..and look at the profits of the top 1% !! If this continues I see a revolution coming..class war..but not one of words
Reader55549798
Nov 10, 2012 4:26 PM CST
We're barely past the election and already, the ways Congress is going to weasel out of the fiscal 'cliff' that they created is growing. Why do they issue an ultimatum they full well know it is not going to happen? It SHOULD happen and further grind the Rapin' Republicans in the dust. They started it and should be held accountable for its consequences. Mealymouthed windbags straight from the pit of hell. 'Legitimate' ones, at that.
Mr.LarryG.
Nov 10, 2012 11:21 AM CST
Here is 2 options and suggestions for all you RepubicHairs who cant believe they lost the election so badly--- 1. switch over to the FOX web page and put your rants on that web page where evryone will agree with you so that you can feel so good about your miserable lives. or 2.all you RepubicHairs should all hold hands, and jump off a bridge together as you pledge your allegiance to Limpballs, Hannity, Rove,and Grover Nordquist