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Barack Obama vote a mandate for tax hike on rich?

Originally published: November 6, 2012 5:45 PM
Updated: November 7, 2012 3:40 PM
By By KATHLEEN HUNTER AND ROXANA TIRON  Bloomberg News

President Barack Obama says there's more work to

President Barack Obama says there's more work to do, and that he wants to cooperate with both parties. The President spoke before thousands of cheering supporters who celebrated his re-election victory. The AP's Robert Ray reports from Chicago. (Nov. 7) (November 7, 2012 7:09 AM)

President Barack Obama's victory positions him to claim a mandate for pushing a proposal through Congress that would let tax cuts expire for top earners and avert $1.2 trillion in automatic spending reductions.

Obama now must decide how to contend with opposition from congressional Republicans who demand a tax-cut extension for all income levels.

Obama defeated Republican Mitt Romney...

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