Rick Moran; Is a deal near on fiscal cliff? "After conceding on taxes, entitlements, and the debt ceiling vote, Speaker John Boehner got some good news yesterday.
"Looks like he won't have to hand Obama his shirt too."
....
"To be somewhat fair to Boehner, he has no leverage at all now, having given in on the debt ceiling vote. And there are still some poison pills in Obama's proposal -- the "stimulus" money for one -- that would be a deal breaker.
"If a deal is going to go down, it will now be sooner rather than later. The momentum is now all in favor of getting something done - even if it's a rancid deal for the GOP."
President Obama's new fiscal cliff offer moves needle "The president’s $2.4 trillion proposal marks the first time that he has given ground on income tax rates. He would raise rates on household income above $400,000 — up from $250,000 — as part of a plan delivered Monday to Boehner, according to a source familiar with the talks."
WSJ; Taxes Are Much Higher Than You Think "President Obama argues that the election gave him a mandate to raise taxes on high earners, and the White House indicates that he won't compromise on this issue as the so-called fiscal cliff approaches.
"But tax rates are already high—much higher than is commonly understood—and increasing them will likely further depress the economy, especially by affecting the number of hours Americans work."
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