Obama offers concessions over tax hikes.

The haggling to avert a fiscal cliff has brought more movement, with President Obama offering to limit tax increases to those earning over $400,000 - up from his long-held desire of $250,000 but well below John Boehner's proposal of $1M. The latter's aides say the offer represents "a step in the right direction" but is too heavy on the tax revenues and too light on the spending cuts.