• Inside Labour

    Away with empty rhetoric and slogans - labour needs to focus on real issues, says Terry Bell.

  • Wrap-up: Davos insights

    Alec Hogg speaks about the top three issues at this year's World Economic Forum.

  • Netflix and SA video

    Much of Netflix's potential impact on SA has already been made, says Arthur Goldstuck.

Loading...
See More

Obama: more tax revenue needed

Feb 04 2013 10:56 Reuters

Related Articles

US debt panel fails to reach deal

Obama tables $3 trillion debt plan

US deficit 'accident waiting to happen'

US could lose gold-chip rating

Obama warns Congress of economic chaos

US not a bargaining chip - Obama

 

Washington - President Barack Obama said on Sunday more tax revenue would be needed in the coming years to reduce the US deficit but raising tax rates was not a key issue.

"I don't think the issue right now is raising rates," Obama said in an interview on CBS.

"There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit. And we can do it in a gradual way so that it doesn't have a huge impact," he said.

At the beginning of the year Obama pushed through legislation to address the US fiscal cliff that raised income tax rates on households making more than $450 000 a year.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

united states  |  fiscal cliff

NEXT ON FIN24X

 

Latest Articles

Fun and inexpensive things to do with the kids Read More...
8 simple ways to earn extra money Read More...
6 motivational tips to help you save this year Read More...
Invest for Income Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...