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In 2010 there was a wave of Tea Partiers swept into Congress. In 2011 as the county was headed toward the Treasury defaulting for the first time in history, House Speaker John Boehner tried to deliver the votes but met with great resistance. Times have changed thanks to this last election and the pending fiscal cliff.
President Obama wants more revenue, but appears to agree to get it anyway he can. He doesn't appear to be locked into raising the tax rates on the rich.
John Boehner appears to be in a stronger position to deliver the votes should a compromise agreement reach the table. That compromise agreement looks to be wiping out many of the tax loopholes instead of raising rates.
President Obama plans to meet with congressional leaders on Friday at the White House. Hopefully those talks will go well. Signs are pointing to them being productive. The president also plans to meet with business leaders and hopefully he'll learn what he can do in his power to help them as well.
We're hearing more Congressmen on both sides of the aisle starting to sound like they're willing to compromise. Nobody gets everything they want, but nobody gives up the farm.
Let's hope so. Unfortunately any agreement will probably be a temporary measure which still leaves the air on uncertainty and that's not good for the stock market and not good for the economy. Sometime next year it's going to take an honest concerted effort on both sides to take a long hard look at the tax rate in this country and come up with something that seems fair to everyone and produces the desired results.