attempts to avert a "fiscal cliff," across-the-board tax increases and cuts in defense and domestic programs that economists say could send the economy into recession

numerous proposals Obama has made to cut spending, including recommendations to cull $340 billion from Medicare over a decade and an additional $250 billion from other government benefit programs

Republicans "sent the White House a counteroffer that would achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs

a deal to prevent damage to the economy,

Republicans struggle with Obama's demands to raise taxes, but Reid has privately told his rank and file they could soon be feeling the same distress if discussions grow serious on cuts to benefit programs

we need to strengthen Social Security, we need to strengthen Medicare for future generations, the current path is not sustainable because we've got an aging population and health care costs are shooting up so quickly

Republicans want to curtail annual cost-of-living benefits for Social Security and other government benefits, as well as raise the age of eligibility for Medicare from 65 to 67 beginning at some point in the future

president seems to think that if all he talks about are taxes, and that's all reporters write about, somehow the rest of us will magically forget that government spending is completely out of control and that he himself has been insisting on balance,

Obama's plan would raise $1.6 trillion in revenue over 10 years, in part by raising tax rates on incomes over $200,000 for individuals and $250,000 for couples. He has recommended $400 billion in spending cuts over a decade.

seeking extension of the Social Security payroll tax cut due to expire on Jan. 1, a continuation in long-term unemployment benefits and steps to help hard-pressed homeowners and doctors who treat Medicare patients

Obama last year signed legislation to cut more than $1 trillion from government programs over a decade, and was proposing $600 billion in additional savings from benefit programs.

health care law that Obama signed into law showed savings of $100 billion. Much or all of that funding came from Medicare, even though Obama's aides insisted during his successful campaign for re-election that he had not made any cuts in that program

Boehner's plan, in addition to calling for $800 billion in new revenue, envisions $600 billion in savings over a decade from Medicare, Medicaid and other government health programs as well as $300 billion from other benefit programs and another $300 billion from other domestic programs.

It would trim annual increases in Social Security payments to beneficiaries, and it calls for gradually raising the eligibility age for Medicare from 65 to 67, beginning in a decade

Greater inequality raises economic, political and ethical challenges as it risks leaving a growing number of people behind in an ever-changing economy

the top federal marginal income tax rates tumbled – to 29 per cent in 2010 from 43 per cent in 1981

Canada’s growing gap: a widening disparity in labour earnings between high- and low-paid workers, and less redistribution.

Taxes and benefits reduce inequality less in Canada than in most OECD countries

Shifts in the labour market are a key reason why the gap is widening

Technological progress has been more beneficial to high-skilled workers, while the gap in men’s earnings in particular is growing ever wider

annual hours of low-wage workers in Canada have fallen to 1,100 hours from 1,300 hours, while those of higher-wage workers fell by less, to 2,100 from 2,200 hours

Rising self-employment

the self-employed typically earn less than other full-time workers

Taxation

Canada’s tax-benefit system was as effective as those of the Nordic countries in stabilizing equality, offsetting more than 70 per cent of the rise of market-income inequality

taxes and benefits now offset less than 40 per cent of the rise in inequality

inequality has been rising more rapidly in Canada than in the U.S.

social implications

income inequality with poor health outcomes

11-year difference in life expectancy between men who live in its poorest neighbourhood and those its richest

Taxing the rich

closing loopholes

compliance with tax rules

education, skills training and job retraining programs

More and better jobs, enabling people to escape poverty and offering real career prospects, is the most important challenge