WASHINGTON — Senate leaders and their aides sought a formula Saturday to extend tax cuts for most Americans that could win bipartisan support in the Senate and final approval in the divided House by the new year, hoping to prevent large tax increases and budget cuts that could threaten the fragile economy.
As part of the last-minute negotiations, the lawmakers were haggling over unemployment benefits, cuts in Medicare payments to doctors, taxes on large inheritances, and how to limit the impact of the alternative minimum tax, a parallel income tax system that is intended to ensure the rich pay a fair share but that is increasingly encroaching on the middle class.
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Times says Republicans offered to put higher tax cutoff at $400,000. Times LIES here. It knows that John Boehner offered a $1 million threshold, NOT $400K. It also doesn't report that Boehner's proposal was the COPIED from Nancy Pelosi's own proposal. So Barack Obama keeps CHANGING the Definition as to what constitutes a "Rich" person. As a result, this is the "Obama Cliff".
You are indeed an amazing spinner. From Pelosi, that's rich. The minority, oh what's the point.