Obama stands by demand for higher tax rates on richest

12/5/2012 | Bloomberg · Reuters · CBS News

President Barack Obama said in an interview with Bloomberg television that there will be no deal in averting the "fiscal cliff" that doesn't include an increase in tax rates for the wealthiest Americans. "We're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it," Obama said.

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