Democrats Propose $400,000,000,000 Tax Increase in Budget Talks

Can't possibly imagine why this is buried in an article from the Main Stream Media (the issue of the four hundred billion dollar tax increase is in the 23rd paragraph of the story):

"The president needs to take a chance himself, and do something that shows he's willing to give up something that's very large to move this forward," Zandi said in an interview.

The president stepped up his personal involvement in negotiations after bipartisan talks led by Biden stalled last week. Republican lawmakers abandoned the negotiations, saying the issues still on the table had to be addressed by the president.

Obama already has met privately with House Speaker John Boehner, R-Ohio, and with House Democrats.

Until Friday, Biden had held a series of meeting over several weeks with bipartisan teams from the House and Senate, focusing on areas where the two sides were amenable to cuts until the dispute over taxes caused Republicans to walk out.

Carney rejected suggestions that Obama should have become more involved earlier. "If you honestly believe that the public is out there wondering why the president wasn't in every one of these meetings, you know, I think that's nuts."

The White House is pushing for some tax increases on the wealthy or the elimination of tax breaks for big companies and wealthy individuals as part of a deficit-cutting plan. During the Biden-led negotiations, Democrats proposed about $400 billion in additional tax revenue, including ending subsidies to oil and gas companies, an idea that has failed previously in the Senate.

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