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Raising taxes not so simple


By tovarichpeter   Follow   Tue, 20 Nov 2012, 1:53am PST   231 views   0 comments
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http://www.nytimes.com/2012/11/21/business/no-pain-no-gain-in-meeting-in-the-middle-on-taxes.html?hp&gwh=21D855E1FD23ADB3F83F10D57686A679

The White House has drawn one line in the sand: It argues that tax rates must go up on income above $250,000 a year, because reducing tax breaks for the affluent cannot on its own raise the $1.6 trillion in additional revenue it seeks. Congressional Republicans have drawn another line: They might accept higher revenue, but only through the reduction of tax breaks.

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