$250/K Obama Proposal Turns Into $4-450/K Deal

http://www.dailykos.com/story/2012/12/28/1174542/-Is-400k-the-new-250k

Bipartisan agreement still hinged on the Senate leaders finding an income level above which taxes will rise on Jan. 1, most likely higher than Mr. Obama’s level of $250,000. Quiet negotiations between Senate and White House officials were already drifting up toward around $400,000 before Friday’s White House meeting. The two sides were also apart on where to set taxes on inherited estates.

Even before the meeting, Senator Max Baucus of Montana, chairman of the Finance Committee, said “things are starting to gel” around a deal. According to aides familiar with the talks, the plan, in its early stages, centered on a deal that would extend all the expiring Bush income tax cuts up to $400,000 in income.