{"id":39818,"date":"2013-01-07T10:28:00","date_gmt":"2013-01-07T10:28:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/congressional-leaders-spar-over-tax-increases\/39798\/"},"modified":"2013-01-07T10:28:00","modified_gmt":"2013-01-07T10:28:00","slug":"congressional-leaders-spar-over-tax-increases","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/congressional-leaders-spar-over-tax-increases\/39818\/","title":{"rendered":"Congressional Leaders Spar over Tax Increases"},"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>Appearing in separate television talk-shows on Sunday, Senate Minority leader Mitch McConnell and House Democratic leader Nancy Pelosi made clear their party\u2019s stance of the issue of additional tax hikes.<\/p>\n<p><span id=\"more-39818\"><\/span><\/p>\n<p>Congressional negotiations which somehow managed to save the economy falling off the cliff, are heading towards another round of heated discussions. Political brinkmanship is very much on the cards.<\/p>\n<p>While McConnell said that enough has been done on the tax front and proposed spending cuts, Pelosi ruled out to refuse raising further taxes on wealthy Americans.<\/p>\n<p>Speaking CBS\u2019 \u2018Face The Nation\u2019, Pelosi said, \u201cI&#8217;m saying that&#8217;s not off the table [The Possibility of raising taxes].\u201d\u00a0Although the Democratic leader from California declined to discuss in details, saying that she wasn\u2019t getting into specifics, she did talk about alterations in tax law which could entail some deductions and other breaks.<\/p>\n<p>McConnell meanwhile sounded resolute on the issue of avoiding additional tax increases on high income earners even as he vehemently insisted on slashing federal spending.<\/p>\n<p>Speaking to ABC\u2019s, \u2018This Week\u2019, the Kentucky Republican said, \u201cThat&#8217;s behind us. Now the question is what are we going to do about the biggest problem confronting our country and our future, and that&#8217;s our spending addiction.\u201d<\/p>\n<p>Until we address the entitlement programs and make the eligibility for entitlements meet the demographics of our country, we can\u2019t ever solve this problem,\u201d\u00a0added the Republican leader.<\/p>\n<p>In another television appearance, NBC\u2019s \u2018Meet The Press\u2019, McConnell said that even though he favored tax reform, he was not in supporting more revenue through higher taxes.<\/p>\n<p>Global equities rallied last week after the U.S. congress averted the fiscal disaster by approving 39.6% tax rates on individuals having annual income over $400,000 and couples having annual income over $450,000, which allowed postponing series of automatic spending cuts and extended Bush-era tax cuts on income earners on most Americans. However, equity markets are likely to remain wobbly over next two months as heated negotiations as to debt ceiling and spending cuts issues will keep investors edgy.<\/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\/20130111163020\/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%2Fcongressional-leaders-spar-over-tax-increases%2F39818&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<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130111163020js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \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\/stocks-lower-in-early-trading-22\/40079\">\nStocks Lower in Early Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/futures-pointing-towards-flat-or-lower-start\/40066\">\nFutures Pointing Towards Flat or Lower Start<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-but-heading-towards-weekly-gains-silver-prices-down-as-well\/40065\">\nGold Prices Fall but Heading Towards Weekly Gains, Silver Prices Down As Well<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/supervalu-announces-selling-of-its-5-supermarkets-to-a-private-equity-group-svu\/40064\">\nSupervalu Announces Selling of Its 5 Supermarkets to a Private Equity Group (SVU)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/pressure-mounts-on-congress-to-act-fast-on-debt-ceiling-problem\/40062\">\nPressure Mounts on Congress to Act Fast on Debt Ceiling Problem<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-climb-after-chinese-data-and-ecb-meeting\/40060\">\nGold Prices Climb After Chinese Data and ECB Meeting<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-after-hours-january-10\/40052\">\nMarket Update After Hours January 10<\/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\/20130111163020im_\/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\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\"\nsrc=\"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>Appearing in separate television talk-shows on Sunday, Senate Minority leader Mitch McConnell and House Democratic leader Nancy Pelosi made clear [&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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