GOP: Tax cuts for rich or none at all

President Barack Obama said yesterday there was still disagreement with Republicans on whether to extend Bush-era tax cuts for the wealthiest Americans and that he asked two top advisers to help negotiate a deal.

Republican leaders argue that it will be better for the economy if tax cuts for all Americans are extended. Obama may have to agree to extend cuts for Americans of all income levels for one to three years — an onerous option to many Democrats, but one that may be the most likely outcome if the two sides agree on anything at all.

Obama said he appointed Treasury Secretary Tim Geithner and budget director Jack Lew to work with congressional Republicans and Democrats to come up with a deal in the coming days to prevent broad tax increases from occurring next year.

“We should work to make sure that taxes will not go up by thousands of dollars on hard-working, middle-class Americans come Jan. 1, which would be disastrous for those families but also could be crippling for the economy,” Obama said.

Finding common ground, however, will be tricky. Obama said he and many Democrats continued to believe that it would be “unwise and unfair” to spend $700 billion to extend tax cuts for the wealthiest Americans while also trying to bring down the U.S. deficit.



News
Entertainment
Sports
Lifestyle
Local

Cabbie tried to sexually assault passenger with kids…

NYPD is on the lookout for a taxi driver suspected of trying to sexually assault a female passenger while her three kids were in the car.

Local

FDNY debuts new fire simulator for blazes at…

The New York City Fire Department christened its newest, state-of-the-art, custom-built simulator at its training academy on Randall's Island Tuesday.

Local

Bronx cop saves baby who stopped breathing

A Bronx police officer is credited with saving the life of a 2-month-old baby who stopped breathing Tuesday morning. Police Officer Johnny Castillo, 38, was…

Local

Brewer celebrates Women's Equality Day with voter pledge

Manhattan Borough President Gale Brewer celebrated Women’s Equality Day Tuesday by pledging to register at least five women voters before the Oct. 10 deadline. Brewer…

Gossip

Ariana Grande addresses Big Sean dating rumors

Now that Ariana Grande and Big Sean were caught on camera holding hands, she has something to say.

Entertainment

QUIZ: How many English words do you actually…

Are you as smart as you say you are? Are you a word nerd? Take this quick vocabulary test to find out if you're a true wordsmith. Good luck.

Television

'Pretty Little Liars' recap: Season 5, Episode 12,…

If you've wondered whether Ali and Bethany knew each other, you got an answer tonight: Yes, and in a very tangled way. But many lingering…

Entertainment

Cymbals Eat Guitars Have Everything to 'LOSE'

At its most basic level, a rock band can be thought of as a family, a group of people selflessly devoted to a cause. When…

College

When are 2014 college football playoffs? (Schedule, date,…

When and where are 2014 college football playoffs? A look at the schedule, date, TV, time for the semi-finals at championship game.

NFL

Dimitri Patterson suspended only for rest of preseason…

Dimitri Patterson ended up getting just a slap on the wrist.

Sports

Eugenie Bouchard excited for 'rowdy' fans at US…

Eugenie Bouchard is sure to endear herself to New York's tennis faithful as she tries to win her first grand slam title across the next two weeks.

MLB

MLB Power Rankings: Angels and A's still at…

MLB Power Rankings: Angels and A's still at top, Nationals climb

Parenting

Lure your baby to sleep with Maroon 5…

These new renditions of "Moves Like Jagger" and "Payphone" are Maroon 5 like you've never heard them before.

Wellbeing

Who is having the most orgasms?

  Single lesbians report having orgasms more often than heterosexual women but both gay and straight men still come out on top of the climax…

Home

Jonathan Adler shares his tips for a great…

Jonathan Adler took a break from boogie boarding at his beach house to tell us how to keep that Labor Day party festive.

Travel

Most popular Labor Day weekend destinations

Priceline.com released its Top 20 destinations for the end of summer, including Labor Day weekend. If you’re heading to any of these spots, expect a…