Tuesday, October 13th7.2°C

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 TSX13844.73-119.63
S&P CDNX553.38+1.12
S&P 5002003.69-13.77
CDN Dollar0.7688+0.0012
Natural Gas2.496-0.002

Okanagan Companies
Pacific Safety0.215-0.010
QHR Technologies Inc1.23-0.02
Metalex Ventures0.07+0.02
Russel Metals20.96-0.30
Copper Mountain Mining0.60-0.06
Colorado Resources0.07+0.00
ReliaBrand Inc0.0225-0.0020
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.075-0.005
Decisive Dividend Corp3.07-0.18
Diamcor Mining1.00+0.03


2423499#226 1665 Ufton Court
2 bedrooms 1 baths
more details
Click here to feature your property
Please wait... loading

Income for life?

Photo: Thinkstock.comIn almost every conversation I have with clients these days, the topic swings to interest rates. What direction they’re going, how long will they stay where they are and how...

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...



Member of BC Press Council