U.S. President Barack Obama on Tuesday launched public relations to promote his bid to raise taxes on wealthy Americans, but members of the U.S. Congress still deadlocked significant year-end tax increases and spending cuts, is known as the "fiscal cliff."

Small business leaders in the White House, the voice of one hour to meet with Obama to support his target is middle class after the end of this year to extend the low tax rate, while the occupancy rate increased, wealthy taxpayers.

The entrepreneurs urged Obama said: "Prince Louis" to play, to keep the middle class tax cuts, the co-founder of the old-fashioned vinyl record, in St. Louis, Missouri, an independent music store

"Growth of work in the United States is spending consumers, most people need two or three thousand dollars a year in his pocket, to help drive the economy," the prince told reporters at a news conference outside the White House.

Republicans want to extend the low tax rate - under the management of former Republican President George W Bush, developed a decade ago - all taxpayers, including the annual household income of more than 250,000 U.S. dollars.

Tax increases on the wealthy would hinder investment and employment in the high unemployment rate, the Republicans said.

No indication that congressional Democrats and President Alliance to support tax increases for the wealthy from his position. But the two sides have softened some of the long-held positions: Republicans have expressed willingness to consider new revenue growth, while Democrats relaxation of the hard-line savings, medical insurance and health care plans.

Within a month left before the Bush tax cuts expire, automatic spending cuts began to take hold, the market worried about the "financial cliff fall forecast, may trigger a new round of recession.

"Bush tax cuts must be resolved before you can move on, the rest of the fiscal cliff on the final status is still not clear that," at the Guggenheim Securities analyst Chris Kruger of the Washington Research Group.

Mild market declines

Although the government reported that U.S. business spending plans rose again in October, the price of single-family homes rose again in September, stock prices fell slightly.

The mild sell stocks, the Dow Jones index, the Dow Jones Industrial Average closed at 12,878, an increase of 14% compared to a year ago.

Financial Keefe Bruyette & Woods analyst Brian Gardner said, in a limited number of transactions will likely to be hit, in order to avoid a financial cliff, the larger financial problems pushed to 2013.

The fiscal cliff headlines, you can have the greatest impact on the market, "he said. "In the coming weeks, we expect a lot of headlines, which will improve, and then dash investor hopes that in the next three weeks could be a bumpy ride."

Re-election in November 6 fresh, Obama and big business executives to hold another meeting on Wednesday, and then went to a toy factory in Pennsylvania on Friday, according to his own case, the tax on.

Senate Republican leader Mitch McConnell rip Obama plans to put his agenda to the public. "To sit down with the agreement of both members of Congress and work, rather than during the campaign, in the Senate, Mitch McConnell roared.

"We already know that the President is a good activist, what we do not know whether he had the necessary leadership, led his party bipartisan agreement".

Obama met with congressional leaders on November 16 last year. The follow-up meeting is expected this week, but probably next week, congressional aides said.

In the meantime, the staff has been little progress between the representatives of the White House and Republican House Speaker John Boehner meeting during the festive season, the aide said.