Wednesday, July 29th29.4°C
27122

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.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14301.80+224.44
S&P CDNX584.76-2.20
DJIA17751.39+121.12
Nasdaq5111.73+22.53
S&P 5002108.57+15.32
CDN Dollar0.7721-0.0017
Gold1096.90+0.60
Oil49.27+0.86
Lumber252.50-3.60
Natural Gas2.882+0.061

 
Okanagan Companies
Pacific Safety0.18+0.01
Knighthawk0.010.00
QHR Technologies Inc1.40+0.03
Cantex0.05+0.00
Anavex Life Sciences0.7865+0.0065
Metalex Ventures0.05-0.01
Russel Metals19.21+0.86
Copper Mountain Mining0.85+0.03
Colorado Resources0.06+0.00
ReliaBrand Inc0.0045-0.0022
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.14-0.01
Decisive Dividend Corp2.50-0.08

 



25608

FEATURED Property
22885715177 South Ridge Drive
4 bedrooms 3 baths
$559,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_








Member of BC Press Council


24697