John Boehner, the House Speaker, was urged by senior Republicans to relent over a new top rate of income tax in an attempt to win cuts to America’s expensive entitlement programmes.
Bob Corker, a senator for Tennessee, said Republican leaders should acknowledge their weak hand in the negotiations to avert across-the-board tax hikes and deep cuts to public spending from January 1.
“There is a growing group of folks that are looking at this and realising that we don’t have a lot of cards on the tax issue before year-end,” Mr Corker told Fox News.
Economists have warned that the combination of higher taxes on all American households and $600 billion (£360 billion) of cuts to government spending could throw the country back into recession.
Mr Obama says that he will not sign a new deal without raising the top 35 per cent tax rate – but has signalled that he would be willing to compromise at 37 per cent rather than the 39 of his opening bid.
Read More at telegraph.co.uk . By Jon Swaine.
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It is truly amazing that our Congress is being intimidated by someone that is not eligible to be in the office of the presidency! Congress needs to demand release of the paper sealed that will prove that Obama was never eligible to be in the White House. The papers are in the vaults of the Hawaii Department of Health and in the vaults of Occidental and Harvard College.
Hopefully Judge Lewis in Florida, or Judge Tom Parker in Alabama, will demand release of those documents, and if they do, Obama will be dragged out of the White House in handcuffs and a waist chain, held to stand trial for some of his many crimes, including treason.
Republican senators this is Obama’s mess and the monkey sits squarely on his shoulders and that of the Democrats. Sit tight, don’t budge and demand spending cuts across the board. If you grant a tax hike Obama will just blow the money on entitlement spending. His tax increase on the rich and businesses in the long run will decrease tax dollars because it will drive up unemployment.