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 Still more: Obama budget plan to soak the rich

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Still more: Obama budget plan to soak the rich Vide
PostSubject: Still more: Obama budget plan to soak the rich   Still more: Obama budget plan to soak the rich Icon_minitimeMon Feb 13, 2012 6:04 pm
President Obama: "Asking a billionaire to pay at least as much tax as his secretary... that's just common sense"

US President Barack Obama has proposed to raise taxes on the wealthy in his 2013 budget, prompting an election year spending showdown with Republicans.

The proposal includes $1.5 trillion (£950bn) in new taxes, much from allowing Bush-era tax cuts to expire.

He will also call for a Buffett Plan tax hike on millionaires, as well as infrastructure projects.

Republicans said the budget, which must be agreed between the White House and Congress, would not curb the deficit.

Mr Obama unveiled details of the $3.8tn plan in an address to students at a college in Virginia on Monday morning.

http://www.bbc.co.uk/news/world-us-canada-17014744

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