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The Boston Globe

Business

Wealthy willing to pay more in taxes

GOP business leaders say cuts in spending needed

A number of wealthy Republicans, bucking their party’s orthodoxy, say they would be willing to pay higher taxes as part of a comprehensive plan to get the nation’s finances on track.

These Republicans, most of them supporters of former Massachusetts governor Mitt Romney, say they still want to see substantial cuts in federal spending, but believe higher taxes are needed to help bring down the deficit and nation’s ballooning $16 trillion debt, which now exceeds the annual output of the US economy.

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