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Geithner: Raising Rates on the Rich

Wednesday, 5 Dec 2012 | 4:08 PM ET

Treasury Secretary Timothy Geithner tells CNBC's Steve Liesman the Obama administration is "absolutely" prepared to go over the "fiscal cliff" if Republicans don't agree to higher tax rates on higher income Americans. He wouldn't, however, say if the administration would be willing to go over the "cliff" if the top rate doesn't go back to 39.6 percent.