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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Nov 19, 2012
Page
5
Negotiators face a January 1 deadline with conflict over whether to extend 2001 and 2003 tax rates for all, including the wealthy, and how to curb deductions. Lobbies defend billions in tax breaks as both sides hold firm amid floated ideas to cap deductions and limit deductibility.
Obama presses for higher taxes on top earners with rates rising from 35 to 39.6 percent for families over 250000 while Republicans resist new tax rates. They favor revenue tweaks via reform and entitlements reform, amid GOP Tea Party opposition.
In Bangkok, President Obama tours the Wat Pho monastery with Hillary Clinton and a monk guide. He jokes about needing prayer for budget talks back home as he previews authentic Thai food and a state dinner. The king presents gifts, including a photo album for Obama.
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