President Barack Obama urged Congress on Saturday to raise taxes on millionaires, reviving a proposal launched in September and aims to establish a clear contrast between the president and the Republican opposition.
The plan, which must be voted on April 16 in the Senate, with Democratic majority, is unlikely to be approved in Congress. But it symbolizes the efforts of the president and congressional Democrats for being advocates for economic justice.
“I do not envy the success of this nation. We aspire to it, “Obama said in his weekly radio and Internet. “But we also believe that anyone who would do well to return a fair share so that more people have the opportunity to progress, not just a few.”
Obama called the plan “Rule Buffett”, referring to Warren Buffett, the billionaire investor who has complained that the rich as he pays a smaller percentage of their income in federal taxes than middle-class taxpayers. Many wealthy taxpayers pay 15% income tax. Obama has proposed that people who earn at least a million dollars a year pay at least 30% in taxes.
Promoting the Rule Buffett makes the president comes at a time when millions of Americans face the deadline of April 15 to file their tax returns.
It also renews attention to the tax rate of aspiring Republican presidential candidate Mitt Romney, a millionaire who paid 15.4% in federal taxes for 2011 largely by income from investments.
In comparison, the highest rate for taxpayers with high incomes derived from wages, and income is 35%.
In statements on Saturday, the president urged listeners to lobby their legislators to “stop giving tax breaks to people who do not need.”
Obama also renewed his call for an end to tax cuts for taxpayers earning over $ 250,000 annually. Such gaps, implemented during the first term of President George W. Bush, expire at the end of 2012.