Posted on 11/13/2012 7:05:24 PM PST by SeekAndFind
Later this week, Obama will have his first face-to-face negotiations over the Fiscal Cliff. In a post that came out this afternoon, The Washington Post's Zachary Goldfarb nicely summarized Obama's opening offer:
Obama’s previous proposal called for raising $1.6 trillion in new taxes on the wealthy by allowing tax rates to increase, imposing a new special tax on millionaires and limiting deductions for the wealthy. He also proposed $340 billion in health-care and entitlement savings, continuing $1.1 trillion in spending cuts already passed into law and generating another $1 trillion in savings through the end of the wars in Iraq and Afghanistan.
The demand for $1.6 trillion in new taxes is far greater than Obama proposed in negotiations with House Speaker John Boehner (R-Ohio) in summer 2011. At the time, Obama wavered between $800 billion and $1.2 trillion in new tax revenue, depending on how much in entitlement cuts Republicans were demanding.
That story came out at 2:37 PM ET, and it's interesting that it was in the several minutes after the release that the market sagged through the rest of the day.
(Excerpt) Read more at businessinsider.com ...
” The US deposits billions for the “war”——connected Afghans withdraw billions with no “silly” requirement to pay it back.”
Best deal in town.
What is the exchange rate on that (US Dollars)?
I was kind of hoping it would have a picture of Glorious Leader so my leg would tingle.
Well, let’s just put it this way - the same square inches of toilet paper would be more useful to you.
You can have my answer now, if you like. My final offer is this: nothing.
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