Tuesday, July 29, 2014         

 Print   Email   Comment | View 11 Comments   Most Popular   Save   Post   Retweet

Obama says U.S. can't afford tax cuts for richest

By Associated Press

LAST UPDATED: 08:49 a.m. HST, Apr 14, 2012


WASHINGTON >>  President Barack Obama says the nation can't afford to keep giving tax cuts to the wealthiest, "who don't need them and didn't even ask for them."

Obama is using his weekly radio and Internet address to urge Americans to ask their member of Congress to support the "Buffett Rule," which is named after billionaire investor Warren Buffett, who says he pays a lower tax rate than his secretary.

The plan would require that people earning at least $1 million annually, whether in salary or from investments, pay at least 30 percent of their incomes in taxes.

The Senate is expected to consider the proposal on Monday.

In the Republican address, Rep. Fred Upton of Michigan says the administration's policies are making gasoline prices worse. He says energy legislation pushed by the House is being blocked by Senate Democrats.



Obama address: http://www.whitehouse.gov

GOP address: http://www.youtube.com/HouseConference

 Print   Email   Comment | View 11 Comments   Most Popular   Save   Post   Retweet

You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
DiverDave wrote:
This comment has been deleted.
on April 14,2012 | 09:00AM
Soledad wrote:
The Buffet Rule sounds reasonable and fair to me
on April 14,2012 | 08:40PM
Pacej001 wrote:
Interesting thing. This major initiative by dear leader will bring in about $4.7 billion a year which amounts to .44% of next year's deficit . That's less than one percent of deficit reduction, but wait, other components of the legislation actually INCREASE the deficit and more than offset the revenue gain from the "Buffett rule". So, no effect on our national debt, except to raise it some. Meanwhile, Biden, the bobble head occupying the VP slot, says it's "a start". A start towards what? More taxes on more citizens? Great. ----------------------Here's what the Republicans need to do: Accept the president's Buffet Rule proposal PROVIDED it comes as part of a fully debated Senate National Budget (a thing we haven't had for three years thanks to the Senate democrats). Then, finally with the Senate providing the democrats comprehensive financial blue print we'll see where this "start" as Biden calls it is gong to take us regarding our massive national debt and entitlement liabilities.
on April 14,2012 | 09:02AM
ChaelSonnen wrote:
The huge deficit that he inherited? Or from the bail outs that we HAD to do?
on April 14,2012 | 09:05AM
Maneki_Neko wrote:
This is cause he just saw his tax return. "What! I made only $750K while those Wall Street guys made millions and millions! Let's tax them! Starting at, say, folks over $751k"!
on April 14,2012 | 09:09AM
NITRO08 wrote:
Do you make over a million a year don't be stupid.
on April 14,2012 | 09:47AM
NanazBoy wrote:
Barry needs to cut his spending, bail outs and everything else he has instituted!
on April 14,2012 | 09:20AM
NITRO08 wrote:
Barry needs to continue the job he's doing, I can't imagine what would have happed if the repub's won the last election! You are miss informed!
on April 14,2012 | 09:58AM
Pacej001 wrote:
Yipee! If the'd won we might have a national budget during the last three years.
on April 14,2012 | 10:18AM
techboy57 wrote:
The Headline should read, "The US cannot afford this president with his out of control spending" He knows it will never pass but wants the people making less than 1 million dollars of income to think he is on their side. To make them think, "hey why am I paying more taxes than the rich guy." How about working on a national energy plan and helping the private sector create more jobs that would benefit the entire nation. He is just all talk and no action!
on April 14,2012 | 09:39AM
NITRO08 wrote:
US can not to have a idiot rich president who never was middle class in his life! He does not know the problems of the middle class!
on April 14,2012 | 09:49AM
NITRO08 wrote:
And you think the republican Mit would do a better job! Open your eyes the repub's are for the rich and big company's that ripoff the middle class and poor!
on April 14,2012 | 09:55AM
techboy57 wrote:
Yes, I think Mitt would be a much better leader than Mr. Obama. He comes from a strong business background which our president never had. Obama wants to punish the people that are successful with higher taxes. Many of these people are small business owners which drive this economy. Mitt's plan is to shrink government, lower our debt, create energy independence, and strengthen our military. As far as the GOP ripping off the middle class & poor, not sure about what you are trying to say so I am unable to respond.
on April 14,2012 | 10:31AM
Breaking News