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Obama: Pressure Congress to raise taxes on wealthy

Monday, April 16, 2012

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As millions of Americans prepare to file their tax returns, President Obama urged them Saturday to pressure Congress to raise taxes on the wealthy.

“If you make more than $1 million every year, you should pay at least the same percentage of your income in taxes as middle-class families do,” Mr. Obama said in his weekly address. “Most Americans support this idea. We just need some Republican politicians to get on board with where the country is.”

The Senate is scheduled to hold a test vote Monday on the so-called Buffett rule, which would impose a minimum 30 percent tax rate on income over $1 million. It’s named for billionaire Warren Buffett, who pays an effective tax rate less than that of his secretary due to certain loopholes in tax law.

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