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FBN’s Peter Barnes on President Obama’s press conference today, and his take on tax rates for top earners.
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-- Fox Business senior Washington correspondent Peter Barnes was inside the president's news conference and he joins us now with more Peter added -- -- out.
-- -- -- they they did and listen I want I want to highlight that lays the big take away for me and I know you talk about this with a rich just a couple of minutes ago.
Which was the the top tech tax rates that the president might be willing to live with.
In some kind of deal on the fiscal cliff and he was given.
That opportunity a specific opportunity a direct question.
On whether or not he would -- require demand that tax rates on the wealthy.
Return to the levels of the Clinton administration go up from say 35% the current top marginal rate to 39 point six under the Clinton administration.
He declined to draw that red line but he didn't did suggest that higher tax rates on the wealthy.
-- at some level could be should be perhaps part of the deal take a listen.
It comes to the top 2%.
What I'm not going to do is to.
Extend -- further.
A tax cut for folks who don't need it which would cost.
Close to a trillion dollars and it's very difficult to see how you make up.
That trillion dollars if we're serious about deficit reduction just by closing loopholes and deductions that you -- the -- tends not to work.
And all this -- course ahead of his meeting with congressional leaders including Republican congressional leaders here at the white house on Friday so this.
Negotiating through the media.
Continues to.
