In his latest "take it or leave it because I'm the emperor" offer to avert the fiscal cliff, Obama has dropped all the spending cuts out of his plan, asking for $1.6 trillion in tax hikes coupled with a permanent end to the debt ceiling.
This is why you should stop getting all your information from a website called hotair... Obama's proposal is to have talks to decide the amount of increase on the highest 2% of erners, and to keep the cuts for the 98% of the nation below that level. He has also put changes in entitlement programs on the table. The only thing keeping negotiations from continuing is the refusal of republican leaders to even acknowledge that a combination of both spending cuts and tax increases on the wealthiest Americans is the only way to make positive fiscal gains.
Actually it was never 1%. It has always been raising taxes on individuals making over $200,000 or families making over $250,000. Those people make up about 2% of earners. That's what it was in the election, and that's what it is now.