Obama Touts Buffett Rule, Says Republicans Want Tax Breaks For Rich


Painting November's election as a contest between two deeply contrasting views of America's future, President Barack Obama spoke in the all-important swing state of Florida Tuesday, outlining his support for higher taxes on the wealthiest Americans.

He told voters that under a Republican plan, millionaires and billionaires would see a flow of cash return to their pockets.

"You can't pay down a deficit by taking in 4.6 trillion less money especially when denying you will make all of these cuts," Obama said. "More than a trillion of tax cuts they propose will go to people making 250,000 a year which is an average of 150,000 dollars for every millionaire and billionaire."

The president railed against the budget plan passed in the Republican-controlled House, telling the crowd that the tax breaks the rich would enjoy would come at the detriment of everyone else.

Democrats, Obama said, would ensure that the rich did not get those breaks.

He closed his speech calling for his youthful audience to contact their Congressional representative and ask them to vote in favor of the "Buffett Rule." The Buffet Rule, named for billionaire Warren Buffett, calls for millionaires and billionaires to pay a greater tax rate.

The president will continue campaigning for the Buffett Rule Wednesday, meeting with millionaires and their secretaries at the White House. The secretaries expected at the White House Wednesday all pay a higher tax rate than their bosses due to the current structure of the tax code.

The Buffett Rule is up for a vote in the Senate within the next few weeks. In the current congressional climate, it's not expected to make it to Obama's desk.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Buffet owes 366 Million in taxes! on Apr 12, 2012 at 01:08 PM
    But Obama doesn't take about that. READ! http://articles.economictimes.indiatimes.com/2012-03-28/news/31249610_1_ticket-tax-tax-battle-first-tax
  • by jazzcat on Apr 12, 2012 at 10:03 AM
    It's always fun to see the partisans go after each other. You folks love your parties, no matter how much they hose us all over. There isn't a dime's worth of difference between any of them, but you partisans will vote straight tickets every election. President Obama is continuing the policies of former-President Bush, who continued the policies of former-President Clinton (and so on). Yet you partisans actually believe you can characterize these politicians as unique or contrast their administrations. Congress and the White House change parties, but nothing changes. The majority of our electorate screwed this country eight ways from Thursday, but you're still point at the other side. I guess you could call it ‘ignorance on parade’.
    • reply
      by Well said! on Apr 12, 2012 at 01:12 PM in reply to jazzcat
      Well said.
  • by Allen Location: CS on Apr 12, 2012 at 09:59 AM
    All I kniow is get him the hell out of office he has done enoiugh damage......And just who the hell makes jobs in the US.........the Rich..............
  • by Burbank on Apr 11, 2012 at 02:52 PM
    1) Remember folks, there're only a fixed amount of dollars in the world. If a person has more than another, they must've taken it from the other. Bs.
    2) I'm curious as to how someone born into near-poverty can become as wealthy as our sitting president by being a community organizer with student loan debts from Harvard in such a short time.
    • reply
      by LOL... on Apr 12, 2012 at 01:15 PM in reply to Burbank
      Only a "fixed amount of dollars in the world" Too funny! Ever hear of Quantitative easing? That would be printing MORE money. Increasing the TOTAL amount of "dollars in the world".
      • reply
        by burbank on Apr 12, 2012 at 08:58 PM in reply to LOL...
        If you had noticed the "bs" at the end of my first statement you'd have found that I believe that argument to be specious at best. Sorry that I forgot to put in on using the facetious font. The class warfare incited by both parties (but used as a weapon by one)is reprehensible. There is no direct correlation between what one person has and another does not. Many, but not all, wealthy people have provided a service that others have chosen to purchase or use. That is how they get "rich". Business is generally about two things: supply and demand.
  • by Wow on Apr 11, 2012 at 11:53 AM
    Lorelei, please share what "work" Obama has done? He hasn't done SQUAT! Are you talking about the unconstitutional Obamacare? Well, I'm pretty sure the Supreme Court will undo that (thankfully) for us all. Obama has done more harm to this country than any other President in history. He has ZERO experience running anything. America was foolish the elect him in the first place, all the foolish things the Clown has done need to be reversed.
  • by Nath Location: Colo Spgs on Apr 11, 2012 at 11:52 AM
    @ Lorelei If Congress had done IT'S job in 2008, Obama would never have set foot in the White House. Everything he HAS done so far is null and void because he was ineligible to even run for office, much less occupy it. What is known about his background (and there is a lot being concealed from the public) is that his father was born in Kenya and a British subject, not born in America. This one fact makes Obama (maybe) a native born American citizen, NOT a NATURAL-BORN American citizen, which is required by the Constitution to be POTUS. One of the questions being raised and the records sealed on: Was Obama adopted by his mother's second husband, an Indonesian citizen? Obama is a mystery man and little is publicly known about his past or origin; not what I would want in the White House. We do know he has and does keep company with some very radical, left wing, revolutionary people and organizations.
    • reply
      by jazzcat on Apr 12, 2012 at 09:55 AM in reply to Nath
      If you know so little about him, how can you be certain he's ineligible to hold the Presidency?
  • by @Lorelei on Apr 11, 2012 at 11:47 AM
    Before you show your extreme ignorance and make your obsurd claim that the rich don't pay the same tax rate, you might want to check your facts libtard. They pay higher tax rates than you. The top 10% earners pay 71% of all taxes. I think they pay their fair share. The class that doesn't pay their fair share is the middle class. I don't pay a dime in taxes. In fact, due to the child tax credit, I get more money back then I put in. Stop watching Obama's political press agencies; MSNBC & CNN. They are feeding you lies just to get Obama elected.
    • reply
      by jazzcat on Apr 12, 2012 at 09:53 AM in reply to @Lorelei
      There's something sadly ironic about a person discussing who pays a fair share, yet proudly taking more money from the system than they put in. If the President is advocating wealth redistribution, you should be first in line to support him. You know, since you're clearly benefiting...
      • reply
        by I agree... on Apr 12, 2012 at 01:14 PM in reply to jazzcat
        almost as bad as Buffet saying he doesn't pay enough, and yet owes over 366 BILLION in back taxes and fines.
  • by Nath Location: Colo Spgs on Apr 11, 2012 at 07:33 AM
    Forget the Buffett Rule, we all could be facing a huge tax increase ($5 trillion) January 1st, 2013 if Congress - especially the Democratic controlled Senate, which would rather have pins stuck under their fingernails than cut taxes, doesn't act. The 2001 and 2003 Bush tax cuts will expire and some other taxes will kick in, including 5 new ObamaCare taxes. Like a bumper sticker I saw said: If you think health care is expensive now, wait until it's 'free'. Read more here: http://thenewamerican.com/usnews/congress/11442-5-trillion-tax-hike-coming
    • reply
      by Lorelei on Apr 11, 2012 at 10:57 AM in reply to Nath
      "Forget the Buffett rule"? Are you out of your mind or extremely obtuse? Don't you think those millionaires/billionaires should pay the same PERCENTAGE of taxes as the poor schmocks that we are do?When are you people gonna let the President do HIS JOB without putting every hurdles you can think of in his way?Really, if he's that bad, and not reelected,the next republican in office can undo all his work (which is pretty much what they've done since he was ELECTED into office anyways).In the meantime, let the man work, for once we have a president who actually DOES WORK.
      • reply
        by William McKelvey on Apr 11, 2012 at 04:35 PM in reply to Lorelei
        When does he work. Between his many vacations or fights with his wife?
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 146975935 - kktv.com/a?a=146975935
Gray Television, Inc.