Report: GOP, Obama Agree Rich Will Pay More

Thursday, 06 Dec 2012 05:28 PM

By Bill Hoffmann

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
More and more Republicans want House leaders to back off their no-higher-taxes-for-the-wealthy war cry and concentrate on a major deal to the costs of Medicare and Social Security, The Washington Post reports.

Meanwhile, a GOP source tells CNN Republicans and the president have agreed the rich will pay more, but how much and what concessions Obama will offer in exchange remain to be hammered out.

By stepping away from their earlier stance, the GOP would be bowing to President Barack Obama, who insists he’s ready to take the plunge over the fiscal cliff unless he’s allowed to raise taxes on the wealthiest 2 percent of taxpayers.

Editor’s Note: Who’s to Blame for the Fiscal Cliff? Vote Here!

“I and some others are advocating giving the president what he wants,” Ohio Rep. Steven C. LaTourette,’’ told the newspaper, adding that in exchange, a deal must be made to slow the deal federal borrowing reduce the debt up to $5 trillion.

“Quite frankly, some people in this 2 percent who call me, they’re more worried about the fiscal cliff than about the rates going up a couple points. That has bigger risk for them.”

Sen. Tom Coburn (R-Okla.), a champion of smaller government, echoed LaTourette.

“Personally, I know we have to raise revenue. I don’t really care which way we do it,’’ he said on MSNBC. “Actually, I would rather see the rates go up than do it the other way, because it gives us a greater chance to reform the tax code and broaden the base in the future.”

CNN reported Thursday that both Republicans and Democrats have “agreed the wealthy will pay more, so now the fiscal cliff talks come down to how much Republicans can wring out of the White House in return for giving in on taxes.’’

While fiscal-cliff negotiations had been stalled, a GOP source told CNN that talks between staffers resumed Thursday.

Editor’s Note: Who’s to Blame for the Fiscal Cliff? Vote Here!

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Retype Email:
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Hackers Hit 25,000 Homeland Security Workers

Saturday, 23 Aug 2014 08:44 AM

The internal records of as many as 25,000 Homeland Security Department employees were exposed during a recent computer b . . .

Soros, Steyer, Bloomberg Donate Heavily to Super PACs in July

Friday, 22 Aug 2014 19:23 PM

Super PAC spending heated up in July in advance of the fall midterm elections, with Democrats dominating the list of meg . . .

Cop Who Pushed CNN Anchor in Ferguson Suspended Over Racist Speech

Friday, 22 Aug 2014 21:41 PM

A St. Louis County police officer who pushed back a CNN anchor during a live broadcast from Ferguson, Missouri, this wee . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved