https://hotair.com/headlines/archives/2012/12/26/income-threshold-isnt-all-that-matters-in-the-fiscal-cliff-debate/feed/HotAir is the leading conservative blog for breaking news and commentary covering the Biden administration, politics, media, culture, and current elections.en-usTue, 09 Jun 2026 07:59:49 -0400<![CDATA[Just as an example in the current fiscal cliff talks, the plan that Obama campaigned on was to raise taxes on those earning more than $250,000 per year. That would generate $824 billion in tax increases. But Obama’s most recent offer, billed as a “compromise” because he raises the threshold for tax increases to $400,000, actually raises taxes by $1.2 trillion (or $1.3 trillion, depending on whose math you believe) because it limits deductions. Even Boehner’s counter offer to Obama promised $1 trillion in tax hikes even though it raised the threshold to $1 million. (This should not be confused with his “Plan B,” which would have raised around $300 billion because it raised the income threshold without tweaking deductions.)]]>Wed, 26 Dec 2012 18:25:28 -0500<![CDATA[Allahpundit]]>https://hotair.com/headlines/2012/12/26/income-threshold-isnt-all-that-matters-in-the-fiscal-cliff-debate-n98605