obama said ready for fiscalcliff hardball
Last Updated : GMT 22:50:36
Arab Today, arab today
Arab Today, arab today

Obama said ready for fiscal-cliff hardball

Arab Today, arab today

Arab Today, arab today Obama said ready for fiscal-cliff hardball

Washington - UPI

U.S. President Obama will veto bills to avert the \"fiscal cliff\" unless Republicans raise tax rates on the rich, White House officials told The Washington Post. Obama is ready to play hardball, whether he wins or loses Nov. 6, because he would be freed from political and economic constraints that previously tied his hands, Obama allies told the newspaper. Republicans, who have successfully resisted higher taxes as part of a deal to reduce the federal debt, will find the tables turned after the November elections, the Post said. Painful tax increases are scheduled to take effect automatically starting Jan. 2, unless the newly elected president and Congress can quickly agree to a compromise. The increases would affect 90 percent of all U.S. households. Republicans will need Democratic support to stop them, the Post said, explaining the officials\' thinking. If Obama wins re-election, he would be in a good position to spell out the terms of a bipartisan debt-reduction deal, the newspaper said. If he loses to Republican presidential nominee Mitt Romney, his veto would raise tax rates before Romney takes office Jan. 20. Undoing the tax increases after the fact could prove difficult, GOP tax aides told the Post, because once tax rates rise, any move to lower them again would increase the budget deficit -- an action that\'s antithetical to current Republican philosophy. Some Republicans told the Post they were skeptical Obama would follow through with his threat, noting he backed off from demands for higher taxes twice in the past. But his veto threat challenges them to a dangerous game of chicken, the newspaper said. The automatic tax increases and spending cuts would cut the 2013 federal deficit in half, Congressional Budget Office estimates indicate. But they are also projected to cause a double-dip recession in the first half of the year. House Speaker John Boehner, R-Ohio, and other GOP leaders have labeled Obama\'s threat a \"\'Thelma and Louise\' economic strategy,\" referring to the 1991 film in which the lead characters, played by Geena Davis and Susan Sarandon, drive off a cliff rather than surrender to police. Top GOP aides in both chambers told the Post if Obama wins re-election, Republicans would press him to abandon the idea of raising the top tax rates by offering a deal to stabilize the federal debt, in part by generating significant new tax revenue -- a U-turn for almost all Republicans, who have long opposed higher taxes. The revenue would come from rewriting the Internal Revenue Code to increase tax collections without raising tax rates, a former senior aide to House Ways and Means Committee Chairman Dave Camp, R-Mich., told the newspaper. \"That\'s the solution to the Rubik\'s Cube,\" said Jonathan Traub, now of Deloitte Tax LLP. \"The current president wants additional revenues. Republicans don\'t want higher tax rates.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

obama said ready for fiscalcliff hardball obama said ready for fiscalcliff hardball

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

obama said ready for fiscalcliff hardball obama said ready for fiscalcliff hardball

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday