DN! Pr. Obama Calls for Ending Bush-Era Tax Cuts for Wealthiest Americans

Obama Calls for Ending Bush-Era Tax Cuts for Wealthiest Americans

President Obama has fired the opening salvo in a looming battle with Republicans over the future of tax cuts for the wealthy. Speaking Wednesday in Ohio, Obama called for an end to Bush-era tax cuts for the wealthiest Americans when the cuts expire at the end of the year. President Obama: "We should not hold middle-class tax cuts hostage any longer. We are ready this week, if they want, to give tax cuts to every American making $250,000 or less. That's 98, 97 percent of Americans. Now, for any income over this amount, the tax rates would just go back to what they were under President Clinton. This isn't to punish folks who are better off—God bless them—it's because we can't afford the $700 billion price tag."

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