Barack Obama, Taxes | featured news

Less than a quarter of wealthy Americans support raising taxes on households making $250,000 or more a year, the level being targeted by President Barack Obama, though tax increases further up the income scale have broader support, said a poll released on Tuesday.

Obama senior adviser David Plouffe accuses 30 Tea Party members in Congress of controlling the debate — whether over deficit reduction, taxes or more immediate items like funding for the government and disaster relief — both set to run out this week.'Fox News Sunday' Transcript: Plouffe Defends Obama's Deficit-Reduction PlanFull Coverage:

Rep. John Fleming (R-LA) appeared on MSNBC with Chris Jansing this morning to attack President Obama’s new deficit reduction plan, which includes some tax increases on the wealthy. Taking up the typical GOP talking point, Fleming said raising taxes on wealthy “job creators” is a terrible idea that kills jobs because many of these people ...

President Barack Obama will release a plan on Monday calling for more than $3 trillion in deficit cuts over 10 years, with about half of the savings coming from higher taxes on the wealthy and big corporations.

Republican leaders on Sunday criticized President Barack Obama's proposal for a new tax on millionaires, calling it "class warfare" and predicting it will face heavy opposition in Congress.

President Barack Obama, in a populist step designed to appeal to voters, will propose a "Buffett Tax" on people making more than $1 million a year as part of his deficit recommendations to Congress on Monday.

President Obama this evening rolls out a plan to inject $447 billion into the ailing economy through tax cuts aimed at working families and small businesses and spending to rebuild infrastructure, proposing a larger cash infusion than expected – and, perhaps, more than Congress will seriously consider.

A new survey of Obama voters by Survey USA found that by a margin of 82%-18% they are more likely to support him again in 2012 if he raises taxes on the rich. The good news for Obama is that 66% of those who voted for him in 2008 approve of his handling of the economy compared to 27% who disapprove. Sixty three percent of those who disapprove are doing so because they believe that Obama has been too willing to compromise with Republicans. The president’s voters made it very clear what they want.

President Barack Obama offered strong praise Tuesday for a deficit reduction plan put together by a bipartisan group of senators, calling the measure's mix of tax hikes and spending reforms "broadly consistent" with his own approach to the current debt ceiling crisis.

President Obama meets with Senate leaders, but no one wants to back away from tough stances on taxes. Debt-reduction talks between congressional leaders and the White House entered a crucial phase Monday, with no clear framework for resolving the deadlock over taxes and spending and a deadline for a potential federal default fast approaching.