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Obama rejects Boehner’s counteroffer, demands tax rate increase

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President Obama rejected the counteroffer from House Speaker John Boehner, R-Ohio, saying the Republican plan to avert the fiscal cliff is “out of balance” and fails for lack of tax rate increases. “Unfortunately, the Speaker’s proposal right now is still out of balance,” Obama told Bloomberg TV. “We’re going to have to see the rates on the top 2 percent go up, and we’re not going to be able to...

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