Report: Obama and His Staff “Elated” at Forcing Tax Rate Increases on Republicans in Fiscal Cliff Deal – 1/1/13
President Obama and his staff are reportedly “elated” at the Fiscal Cliff Deal that raising tax rates on Americans:
ABC NEWS: It’s hard to find anyone in Washington happy about the outcome of the “fiscal cliff” brinksmanship.
But inside the Obama White House, senior officials are elated by what they call a significant presidential achievement: breaking longstanding Republican intransigence on taxes.
The deal passed by the Senate early this morning, with the endorsement of all but seven of the 47 Republicans, would raise $620 billion in new revenue, hiking tax rates on households earning more than $450,000 a year.
The income tax hike would be the first in two decades.
“Keep in mind that just last month Republicans in Congress said they would never agree to raise tax rates on the wealthiest Americans,” President Obama said Monday. “Obviously, the agreement that’s currently being discussed would raise those rates and raise them permanently.” . . . Read More