Obama to Meet With Labor, Business Leaders on Fiscal Cliff

President stands by call for tax increase on wealthy

President Obama will meet with leaders from labor and business communities this week to discuss the 'fiscal cliff', a series of tax increases and spending cuts that will take effect in January without congressional action. The president says he is open to compromise, but assured he is standing firm on his call for upper-income earners (those who make more than $250,000 a year) to pay more in taxes. "I refuse to accept any approach that isn't balanced. We can't just cut our way to prosperity," he said. (Huffington Post)

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