President Barack Obama said the White House proposed “Buffet Rule” could be named the “Reagan Rule,” referring to former Republican President Ronald Reagan as a “wild-eyed, Socialist, tax hiking class warrior.”

“This President gave another speech where he said it was ‘crazy’ — that’s a quote — that certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary,” Obama said at the Eisenhower Executive Office Building Wednesday. “That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan.”

Obama floated the idea of renaming the “Buffet Rule,” which would require individuals making over $1 million annually to pay at least 30 percent in federal income taxes.

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