Obama tells Business Roundtable that higher taxes on wealthy are essential

President Barack Obama told the CEOs of America's largest businesses Wednesday that the fiscal cliff can be resolved quickly if Republicans agree to higher tax rates on wealthy individuals, The Business Journals reported.

"We can probably solve this in about a week," Obama told Business Roundtable members. "It's not that tough."

But he said that's going to require "a conceptual breakthrough" on the part of Republicans — that meaningful deficit reduction requires more revenue than can be achieved…