Obama Claims Tax Mandate

    An employee counts 5 dollar bills inside of a Guess? Inc. retail store in New York, U.S., on Monday, March 12, 2012. Guess? Inc. is scheduled to report fourth-quarter earnings results on March 14. Photographer: Scott Eells/Bloomberg via Getty Images

    Scott Eells, Bloomberg / Getty Images

    In a press conference Wednesday at the White House, President Obama said voters prefer his tax plan—and that he will not back down when it comes to putting a higher tax burden on the wealthiest Americans. “What I'm not going to do is to extend Bush tax cuts for the wealthiest 2 percent that we can’t afford and, according to economists, will have the least positive impact on our economy,” the president said. Things are looking increasingly hopeful for a potential deal, after Republicans indicated they would be open to possible tax reform in order to increase revenue and avoid the looming fiscal cliff that will be put in motion in January.

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