Weekly Tax Inventory - 12-14-2012

This 14^th day of December, we’ll focus on the Fiscal Cliff

Obama Reduces Tax Demand as Budget Talks Inch Forward - Businessweek

President Barack Obama reduced his demand for tax increases to $1.4 trillion from $1.6 trillion as he and House Speaker John Boehner traded another round of offers and inched toward a budget agreement.

Unlikely Backers in a Battle Over Taxes – New York Times

A broad swath of the nation’s leading chief executives dropped its opposition to tax increases on the wealthiest Americans on Tuesday, while the White House quietly pressed Wall Street titans for their support as well.

Corporate Taxes on Table in Cliff Talks – The Wall Street Journal

Corporate taxes hadn't until now been part of budget talks aimed at averting spending cuts and tax increases set for January. Much of the focus has instead been on the expiring individual income-tax rates.

Small Businesses Might Still Hire If Taxes Are Raised - NPR

Now to one of the big sticking points in Washington these days. Much of the debate over impending tax hikes and budget cuts centers on the tax rate for top earners. President Obama argues the tax rate for income over $250,000 a year should be allowed to go up. Republicans say there should be no change in tax rates. When Democrats talk about raising taxes on the wealthy, Republicans hear it as raising taxes on small businesses and killing jobs.

Unemployment Benefits Hang on 'Fiscal Cliff' Deal – CNBC and Yahoo! News