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Report: Boehner Proposes Tax Rate Hike on Millionaires, White House Rejects (UPDATE: Or Not?)

michael3485 Wrote: Dec 17, 2012 2:18 PM
The massive spending scenerio that seemed to help the US out of a recession during WW2 will not work now because the amount of entitlement spending is much greater and also the unemployment rate was going down. Unemployment is not going to go down now with our businesses fleeing the US job market in order to avoid the current business tax rate.

We had the AP's write-up of this story on the homepage yesterday, but I think it's worth a second look.  Politico initially broke the news, so let's consult the original source:

Speaker John Boehner has proposed allowing tax rates to rise for the wealthiest Americans if President Barack Obama agrees to major entitlement cuts, according to several sources close to the talks. It is the first time Boehner has offered any boost in marginal tax rates for any income group, and it would represent a major concession for the Ohio Republican. Boehner suggested hiking...