Chart of the Day
Posted at 12:15 p.m. on Nov. 14, 2012
– The Washington Post has a comprehensive graphic showing the effect of going over the “fiscal cliff,” both for the economy and Americans across the income spectrum. Click through for the full-size image.
Meanwhile, Lori Montgomery and Zachary Goldfarb look at President Obama’s tough opening offer in the negotiations: “Obama plans to open talks using his most recent budget proposal, which sought to raise taxes on corporations and the wealthy by $1.6 trillion over the next decade… Meanwhile, Treasury Secretary Timothy F. Geithner and other senior Democrats on Tuesday said Obama would not be willing to maintain the Bush tax rates in exchange for a cap on deductions for households earning more than $250,000 a year, a leading Republican alternative.”