Fiscal Cliff: Obama, Republicans Eyeing Scaled-Back Package

[DonViejo]

Posted: 12/28/2012 11:32 am EST | Updated: 12/28/2012 11:36 am EST

WASHINGTON -- With congressional leaders set to trek over to the White House for perhaps the last high-stakes meeting before the fiscal cliff is hit, the contours of a last-ditch deal are faintly emerging.

The president will reportedly propose a scaled-down offer during that 3:00 p.m. meeting with House Speaker John Boehner (R-Ohio), Senate Minority Leader Mitch McConnell (R-Ky.), House Minority Leader Nancy Pelosi (D-Calif.) and Senate Majority Leader Harry Reid (D-Nev.). Meanwhile, on the Hill, various congressional aides outlined a proposal that had the potential to resolve the stand-off.

The offer would extend the Bush-era tax rates for incomes under $400,000. The president had argued that any scaled-back deal should set that threshold at $250,000. Republicans still may insist that it be set at $500,000.

In addition, Republicans would be granted an extension of the current estate tax, which is a 35 percent rate over a $5 million threshold. The president wants a 45 percent rate on a $3.5 million threshold but would likely be willing to bend, in part because congressional Democrats are skittish about his proposal.

-snip-

http://www.huffingtonpost.com/2012/12/28/fiscal-cliff-obama_n_2375976.html

[Filibuster Harry]

1. And what is the president getting in return?? Go over the cliff instead of caving in??

Need to show them who is THE BOSS!!!

[Cosmocat]

2. Fuck this

seriously.

Whatever extent the country at large or individuals have to feel the consequences, and it could be me and mine, it simply is time to take a stand.

ALL the Rs want is to keep the taxes as low as possible for folks with money.

They aren't even making a weak attempt at their crazy it creates jobs bullshit.

Record low rates on all accounts for the most part, and with the deadline that holds so many unknowns and possible significant problems, all the Rs are concerned about is taxes for rich people.

Fuck this, seriously.

Let it all go, then have the senate pass the bill for under $250,000 income people and let the jackasses in the House vote it down or not take it up.

[alcibiades_mystery]

3. The Republican position was ZERO rate increases

Then it changed to "OK, fine, rate increases, but only over $1 million."

Now Huffington Post is trying to convince us that the GOP position is or has been "Rate increases, but only over $500,000?" Hilarious.

If Obama gets return to 39.6% for $400,000 and over, and no tax increases for anyone else, that's a HUGE Obama win. Oh, sure, some people will try to convince us that anything short of tax rate increases over $250,000 is some huge "cave," but that's obvious bullshit. If Obama came up $150,000 on the rate (remember, the top tax bracket starts at $388,500 anyway), and the GOP gave up on 1) the very principle of tax rate increases, 2) the $1 million mark, and 3) the NEW $500,000 mark (nobody's ever offered this figure before this article!), that means the GOP lost their shirts, and only a fool would say differently.

[Cha]

4. That's reportedly been debunked..

"The AP reported Friday afternoon that President Obama is not offering a new deal to avert the fiscal cliff during a meeting with congressional leaders at the White House. This comes in contrast to reports from Friday morning that Obama would offer up a new, scaled-back offer."

h/t arely staircase http://www.democraticunderground.com/10022087354

http://livewire.talkingpointsmemo.com/entry/ap-obama-not-making-new-cliff-offer?ref=fpa

[MassedPole]

5. Obama better not Cave Ill be pissed.

[whistler162]

6. You'll be pissed if the sun rises in the east!

[davidpdx]

7. The House is Gone

There is no deal. Stop griping.