When Congress and the President return to Washington, D.C., Obama wants lawmakers to consider a stripped-down measure — dare we call it Plan C? — that he says will keep taxes at their current rates for all but the wealthiest Americans.
While it will definitely be welcome by most taxpayers, it is far from the grand bargain that Obama and House Speaker John Boehner, who saw his own Plan B fiscal cliff proposal killed by the insistent anti-tax faction in his own party, tried to reach in 2011.
As envisioned, such an agreement would be a political tax and spending compromise on long-term budget problems. And it also would ideally include substantive tax reform.
Maybe next year.
In the meantime, check out TurboTax's look at four decades of tax policy under 10 presidents.
Click the image to go to the interactive and check out
presidential tax data since 1962.
The examination of tax policy begins with John F. Kennedy in 1961 and runs through the end of Obama's first term.
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