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Obama offers compromise on top-tier tax rates
 President Obama said a Republican proposal to preserve the full array of Bush administration tax cuts for two more years presents a basis for conversation that could lead to a compromise as lawmakers prepare to meet next week for a high-stakes showdown over taxes.However, a senior House Republican on Sunday flatly rejected the option most favored by the White House: decoupling the Bush tax cuts that benefit the wealthy from the cuts that benefit the vast majority of Americans by extending each set of provisions for a different period of time. No, I am not for decoupling the rates, Rep. Eric Cantor (R-Va.), the No.2 Republican in the House, said on Fox News Sunday. He echoed the GOP argument that such a move virtually would guarantee the eventual expiration of tax breaks in the upper brackets, where some of the most successful small businesses pay taxes. I am not for raising taxes in a recession, especially when it comes to the job creators that we need so desperately to start creating jobs again, Cantor said. I am not for sending any signal to small businesses in this country that theyre going to have their tax rates go up. Posted by: DarthVader 2010-11-08 |
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