{"id":38603,"date":"2012-12-08T04:33:00","date_gmt":"2012-12-08T04:33:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/differences-over-tax-hikes-continues-to-impede-talks\/38602\/"},"modified":"2012-12-08T04:33:00","modified_gmt":"2012-12-08T04:33:00","slug":"differences-over-tax-hikes-continues-to-impede-talks","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/differences-over-tax-hikes-continues-to-impede-talks\/38603\/","title":{"rendered":"Differences Over Tax Hikes Continues to Impede Talks"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>It\u2019s now less than a month left for congressional leaders to resolve the fiscal crisis but talks are heading nowhere as both sides remain stubborn on their stance.<\/p>\n<p><span id=\"more-38603\"><\/span><\/p>\n<p>While there are many issues such as defense spending cuts or changes in entitlement programs like medicare that have seen the White House and Congressional Republicans having heated round of arguments, no other issue during negotiations has proved to be as big impediment as debate over tax increases.<\/p>\n<p>Indeed, the debate over whether Obama administration should extend Bush-era tax cuts and increase taxes on rich Americans has nearly stalled congressional negotiations.<\/p>\n<p>The Obama administration, which is hell-bent on raising taxes on top 2 percent earners, has met with strong resistance from the GOP since it is totally against any such move.<\/p>\n<p>According to sources from both sides, on Thursday, an official from an Obama administration gave a new ultimatum to Congressional Republicans, stating that no deal was possible unless the GOP accepts its proposal of increasing taxes on affluent Americans.<\/p>\n<p>Although it seemed on Friday that House Speaker John Boehner was willing to discuss over the tax issue, he quickly ruled out any reconciliation over this topic. Boehner even said that President Obama\u2019s \u201cslow walking\u201d on the issue would eventually drag the U.S. economy on the edge of \u2018fiscal cliff\u2019.<\/p>\n<p>No progress has been made in Washington, this what the Republican said on Friday.<\/p>\n<p>\u201cAs I&#8217;ve said many, many, many times: I oppose tax-rate increases because tax-rate increases cost American jobs. That has not changed, and will not change,\u201d said Boehner in a written statement.<\/p>\n<p>Boehner also described his meeting and a phone-call on Wednesday with President Obama as unproductive, saying that despite\u00a0 the GOP giving some concessions with regard to tax increases, the Whitehouse was not showing any flexibility on the issue of spending cuts.<\/p>\n<p>\u201cThe phone call was pleasant\u2014but it was just more of the same\u201d, said Boehner.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20121210024518\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fdifferences-over-tax-hikes-continues-to-impede-talks%2F38603&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/differences-over-tax-hikes-continues-to-impede-talks\/38603\">\nDifferences Over Tax Hikes Continues to Impede Talks<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/palo-altos-revenue-growth-disappoints-panw\/38601\">\nPalo Alto\u2019s Revenue Growth Disappoints (PANW)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-but-posts-weekly-losses\/38600\">\nGold Prices Settle Higher But Posts Weekly Losses<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-after-hours-december-7\/38588\">\nMarket Update After Hours December 7<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-55\/38587\">\nStocks End on a Mixed Note<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-silver-prices-also-edge-higher-2\/38578\">\nGold Prices Settle Higher; Silver Prices also Edge Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mixed-in-late-trading-15\/38576\">\nStocks Mixed in Late Trading<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20121210024518im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s now less than a month left for congressional leaders to resolve the fiscal crisis but talks are heading nowhere [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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