Score one for President Obama, House Speaker John Boehner admits the rich will have to pay higher taxes. According to CNN, Boehner conceded on Wednesday in challenging President Barack Obama to sit down with him to hammer out a deal for avoiding the fiscal cliff. “President Obama, however, continued to insist on Republicans first ensuring no tax hike for anyone but the top 2% of Americans as a first step toward a broader agreement on tackling the nation’s chronic federal deficits and debt.The statements reflected how negotiations on the automatic spending cuts and tax hikes set to occur on January 1.”
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Janet Shan is a freelance journalist, blogger and social media consultant. Janet specializes in political and social commentary, as well as business writing. She is the founder and managing editor of the Hinterland Gazette. She is putting the finishing touches on her new novel, a mystery based in the hills on Montego Bay, Jamaica.