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Income threshold isn’t all that matters in ‘fiscal cliff’ debate

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A lot of the debate over the “fiscal cliff” has focused on the income threshold for tax increases. Obama campaigned on raising taxes on those making over $250,000, Speaker John Boehner came back by saying the cut off should be raised to $1 million or above, and then Obama said he’d go as high as $400,000. This was seen as a compromise on his part, but it shouldn’t be. The important point to...

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