Obama: Wealthy must see higher taxes under plan
BY BEN FELLER AP White House Correspondent
Friday, November 09, 2012
WASHINGTON — President Barack Obama said raising taxes on wealthiest Americans must be part of deficit reduction plan but says he is "open to compromise" and "new ideas." Obama says he will refuse to accept any approach that "isn't balanced."
Obama said in his first public comments since the election that Congress should pass a bill that would prevent Bush-era tax cuts from expiring for all but the wealthiest Americans. He says lawmakers from both parties need to work together to tackle the nation's fiscal problems.
The president says he is inviting congressional leaders of both parties to the White House next week for talks on how to avoid the fiscal cliff. Lawmakers face a Jan. 2 deadline to reach an agreement.
President Barack Obama gestures as he speaks about the economy and the deficit, Friday, in the East Room of the White House in Washington. CAROLYN KASTER/AP Photo