Negotiations are on.
The White House starts big.
Obama Sets Steep Tax Target
President to Seek $1.6 Trillion More in Revenue, Double Level From 2011 Talks.
BY JANET HOOK AND CAROL E. LEE
President Barack Obama will begin budget negotiations with congressional leaders Friday by calling for $1.6 trillion in additional tax revenue over the next decade, far more than Republicans are likely to accept and double the $800 billion discussed in talks with GOP leaders during the summer of 2011.
Mr. Obama, in a meeting Tuesday with union leaders and other liberal activists, also pledged to hang tough in seeking tax increases on wealthy Americans.