State of the Union 2012: Buffett Rule

Stand with the President: https://my.barackobama.com/sotubuffetrulevid

But in return, we need to change our tax code so that people like me, and an awful lot of Members of Congress, pay our fair share of taxes. Tax reform should follow the Buffett rule: If you make more than $1 million a year, you should not pay less than 30 percent in taxes. And my Republican friend Tom Coburn is right: Washington should stop subsidizing millionaires. In fact, if you're earning a million dollars a year, you shouldn't get special tax subsidies or deductions. On the other hand, if you make under $250,000 a year, like 98 percent of American families, your taxes shouldn't go up. You're the ones struggling with rising costs and stagnant wages. You're the ones who need relief.




Now, you can call this class warfare all you want. But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense.

We don't begrudge financial success in this country. We admire it. When Americans talk about folks like me paying my fair share of taxes, it's not because they envy the rich. It's because they understand that when I get tax breaks I don't need and the country can't afford, it either adds to the deficit, or somebody else has to make up the difference -- like a senior on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right. Americans know it's not right. They know that this generation's success is only possible because past generations felt a responsibility to each other, and to their country's future, and they know our way of life will only endure if we feel that same sense of shared responsibility. That's how we'll reduce our deficit. That's an America built to last.

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[bklynsam]

The entire SOTU was brilliant .. and so is our President.

[ashtestes]

like a boss

[MrMrUSMC]

Wow, the entire State of the Union gave me chills. Obama '12.

[grungeface87]

Good lord, I think he's finally got it.

[mucker3000]

This is what the people want, and you heard it from the president. However listen to those Republicans clapping. Will they go ahead with this change? I don't think so. I say vote these people out.

[ArcadeGoblin]

greatest president since JFK

[fireicelightarrows]

I would have more confidence in Obama if he could actually get the WORF's (white old rich fucks) to pay more taxes. The problem is, they (the rich gop) can just hold the country hostage every time there's a situation where they don't agree with progressive ideas, because they control most of the wealth, and therefore are able to survive if the country were to crash completely. It's simliar to the egotistic views of early royalty; "Only I can be rich and dictate policy because my god said so."

[Capucino888]

It's time to bring back good sense and fairness in the financial system.

[Accountancy4655]

Obama doesn't know anything about economics. The money that millionaires make doesn't sit in a locked safe. The money is invested by businesses which allows more goods and services to be produced which lowers the cost of these products and benefits everyone. If you want to help out the poor then you shouldn't be bailing out failed companies or having the Federal Reserve create billions of dollars out of thin air. Inflation always benefits the rich at the expense of the poor.

[JolieLaide72]

It is not class warfare, it is a cry for justice and common sense. If the objection is that by taxing more the government wastes more of our money, then address waste. But right now, we are cutting back spending on valuable things, like infrastructure, education, and social programs that help the poor.

[1986Pravman]

Times like this, I wish I was an American. Awe inspiring speech. Obama, we salute you x god bless all like you