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US President seeks to end tax breaks for wealthy US citizens

US President Barrack Obama has called for the rich to pay higher taxes in a bid both to assist with his spending priorities and to cut the deficit. He said that the time had come “to let the tax cuts for the wealthiest Americans…expire”. The tax breaks are in place for those earning over $250,000. President Obama wants the tax rates for these high earners to revert to those that were in place under the Clinton administration.

Kicking the Cannes

The G20 meeting, which was originally intended to seek a solution to the eurozone debt crisis, was yesterday dominated by the shenanigans in Greece. At one point, the Greek Prime Minister was set to resign – this now appears to be unlikely. The referendum that he had called earlier in the week now also  appears to be off the cards. What is happening (at least, what seems to be happening at the moment, but following yesterday’s flip-flopping it’s hard to be