40760
38668
S&P/TSX
15442.67
+9.06
+0.06%
S&P-CDNX
803.60
+2.24
+0.28%
S&P-500
2343.98
-1.98
-0.08%
NASDAQ
5828.74
+11.04
+0.19%
Dow
20596.72
-59.86
-0.29%
Dollar
0.7478
-0.0006
-0.08%
Oil
47.50
-0.72
-1.49%
Gold
1243.30
-3.90
-0.31%
Silver
17.575
+0.030
+0.171%


Obama taxes the wealthy

President Barack Obama says raising taxes on wealthiest Americans must be part of deficit reduction plan, but says he is "open to compromise" and "new ideas."

Obama says he will refuse to accept any approach that "isn't balanced."

Obama says in his first comments since the election that Congress should pass a bill that would prevent Bush-era tax cuts from expiring for all but the wealthiest Americans.

He says lawmakers from both parties need to work together to tackle the nation's fiscal problems.

The president says he is inviting congressional leaders of both parties to the White House next week for talks on how to avoid the so-called fiscal cliff, as the automatic spending cuts and tax hikes are known.

Lawmakers face a Jan. 2 deadline to reach an agreement.



More Business News

40412
Recent Trending
39830
Castanet Proud Member of RTNDA Canada
39637
Press Room