1. It seems that health care, or the public well-being, seems to be the most important to the president, considering the fact it takes up $931.26 of the budget. Following closely behind health care is social security, which also directly reflects the well-being of our country. These are important to the president because a country can not survive without health care. Immunizations, medicine, and checkups help provide a stable environment for success. If we were still a country who had a health care system comparable to a third world country, then the progress of the US would be much smaller, meaning that the global power would compress. Social security is important as well because this acts as an incentive to American's.
2. Originally, the president was leaning towards a goal of having revenue come in a $1.6 trillion and $1.4 trillion. However, as of right now, the president is willing to compromise by raising $1.2 trillion in revenue. In addition to this, he is no longer advocating to increase the percentage of taxes on families with income above $250,000. To replace this idea, he offered up the idea of using a permanent extension of the Bush tax cuts for families who earn less than $400,000 a year. To meet these goals, the White House is proposing limiting the tax benefits of itemized deductions to 28% for taxypayers. The estate tax would also return to the parameters it held in 2009, meaning that a house worth $3.5 million would be taxed at a 45% rate. The goal of this idea is to cut the spending budget by over $800 million, allowing more money to be allocated to other programs. This new proposal would act as a safety shield for the lower middle class, meaning they would be less hurt by inflation.
3. The people more likely to be opposed to this idea are of course, the Republican party. However, this is not simply due to the fact that they both are centered around different issues and have different core values. The Republican party wants to increase the age of eligibility for social security, raising the age from 65 to 67. With this compromise, there would be over $400 million saved annually. After Obama proposed this idea, Boehner said "Any movement away from the unrealistic offers the President has made previously is a step in the right direction, but a proposal that includes $1.3 trillion in revenue for only $930 billion in spending cuts cannot be considered balanced. We hope to continue discussions with the President so we can reach an agreement that is truly balanced and begins to solve our spending problem." which shows his opposition.
Information taken from the following source:
http://www.huffingtonpost.com/2012/12/17/obama-fiscal-cliff-offer_n_2319075.html
2. Originally, the president was leaning towards a goal of having revenue come in a $1.6 trillion and $1.4 trillion. However, as of right now, the president is willing to compromise by raising $1.2 trillion in revenue. In addition to this, he is no longer advocating to increase the percentage of taxes on families with income above $250,000. To replace this idea, he offered up the idea of using a permanent extension of the Bush tax cuts for families who earn less than $400,000 a year. To meet these goals, the White House is proposing limiting the tax benefits of itemized deductions to 28% for taxypayers. The estate tax would also return to the parameters it held in 2009, meaning that a house worth $3.5 million would be taxed at a 45% rate. The goal of this idea is to cut the spending budget by over $800 million, allowing more money to be allocated to other programs. This new proposal would act as a safety shield for the lower middle class, meaning they would be less hurt by inflation.
3. The people more likely to be opposed to this idea are of course, the Republican party. However, this is not simply due to the fact that they both are centered around different issues and have different core values. The Republican party wants to increase the age of eligibility for social security, raising the age from 65 to 67. With this compromise, there would be over $400 million saved annually. After Obama proposed this idea, Boehner said "Any movement away from the unrealistic offers the President has made previously is a step in the right direction, but a proposal that includes $1.3 trillion in revenue for only $930 billion in spending cuts cannot be considered balanced. We hope to continue discussions with the President so we can reach an agreement that is truly balanced and begins to solve our spending problem." which shows his opposition.
Information taken from the following source:
http://www.huffingtonpost.com/2012/12/17/obama-fiscal-cliff-offer_n_2319075.html
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