Growth revenue and fiscal cliff debate

Republicans are still arguing that lower tax rates will generate more revenues according to the “dynamic scoring” theory.  They are still standing steadfast that they will not support any deal that includes raising taxes for the wealthy.  On the other hand, President Obama is worried that those revenues will not materialize thereby forcing cuts in programs that are vital to the middle-class.  Obama is seeking over $1 trillion in revenue from increased tax rates for the wealthiest Americans.

For more about the “dynamic scoring” theory proposed by Republicans and how it relates to the fiscal cliff you can read, “Battle lines drawn over ‘growth revenue’ in fiscal cliff talks.”