WASHINGTON — Vice President Joe Biden said Friday that the Obama administration is flexible about raising tax rates on the nation’s highest earners, as long as they do rise.
“There are two irreducible minimum requirements for us,” Biden said at a lunch with Americans who would be affected by the fiscal cliff. “The top brackets have to go up — this is not a negotiable issue; theoretically we can negotiate how far up. But we think it should go — the top rate should go to 39.6%.”
Biden’s remark is the first official acknowledgement by the White House that they are not demanding rates rise to the Clinton-era level as part of an agreement to avoid the fiscal cliff, carving out space for compromise with Republicans.
- A luxury event called Fyre Festival has turned into a total shitshow. "I think the festival took on a life of its own," the event's co-founder said 😱
- American Airlines gave workers a raise — to the highest pay in the industry — and Wall Street is furious. The company's stock has been falling since Thursday.
- We found an average of about one false statement per day from Trump and his aides throughout the president's first 100 days in office 💯
- A teen had a remarkably petty response when her ex asked for his prom money back: She paid him in all pennies 😏