Barack Obama, Taxing The Wealthy | featured news

President Obama is ready for difficult concessions to reach a deficit deal, but GOP lawmakers must first commit to higher tax rates on the rich and specify what additional spending cuts they want in a deal to avoid the looming "fiscal cliff," Treasury Secretary Timothy Geithner said.

President Barack Obama is lobbying business and labor groups to support his plan to avoid an impending fiscal cliff, telling the two sides he remains committed to requiring the wealthy to pay more in taxes.

To see where the presidential candidates stand on taxing the rich, just look at how they'd tax themselves. To see where the presidential candidates stand on taxing the rich, just look at how they'd tax themselves. Under his own proposal, Mitt Romney would pay half what he would under President Barack Obama's tax plan. For a man of Romney's means, that could save almost $5 million a year.

The Republican-controlled U.S. House of Representatives on Thursday passed a tax break for small businesses, giving voters a stark alternative to President Barack Obama's politically popular "Buffett Rule" surtax on the wealthy.

President Barack Obama's proposal to impose a "Buffett rule" tax on the rich is generating enormous political wattage, but the plan itself would directly affect only a tiny fraction of Americans.

President Obama used a Tuesday speech to not only push legislation enacting the so-called "Buffett Rule," but also outline his vision for the economy versus Republican presidential rivals.

Republicans are ready to ram through the House an election-year, $3.5 trillion budget that showcases their deficit-cutting plan for revamping Medicare and slicing everything from food stamps to transportation while rejecting President Barack Obama's call to raise taxes on the rich....

An Associated Press-GfK poll shows that President Barack Obama's proposal to make millionaires pay a significant share of their incomes in taxes is widely popular. But the plan is not shaking the public's embrace of spending cuts as the best way to balance the budget....

Relishing a political victory, President Barack Obama said Tuesday that Congress "did the right thing" by extending payroll tax cuts for millions of Americans. He urged lawmakers to push forward on more measures, from assistance to struggling homeowners to increased taxes on the wealthy, saying the looming election was no excuse for inaction in Washington.

Senate Democrats proposed Friday tax incentives for businesses hiring veterans as well as job training for all service members leaving the military. The measure was unveiled as the next piece in President Obama's jobs bill and as a remedy to unemployment among veterans.