Obama calls for higher tax rates for rich

2012-03-31 14:40

Washington - US President Barack Obama called on Saturday for higher tax rates on wealthy Americans, saying the current system of tax breaks for top income earners was unfair.

"Today, the wealthiest Americans are paying taxes at one of the lowest rates in 50 years," the president said in his weekly radio and Internet address.

He pointed out that under the current system people like billionaire investor Warren Buffett or Microsoft founder Bill Gates were paying a lower rate than their secretaries.

"That's not fair. It doesn't make any sense," Obama said. "Do we want to keep giving tax breaks to the wealthiest Americans like me, or Warren Buffett, or Bill Gates - people who don't need them and never asked for them? Or do we want to keep investing in things that will grow our economy and keep us secure?Because we can't afford to do both."

The comments came as Congress prepares to consider a proposal that would increase tax rates for people making more than $1m a year while keeping then unchanged for those making under $250 000 a year.

Obama urged Americans to call their members of Congress and ask them to support the bill.

"Call them up, write them a letter, pay them a visit, and tell them to stop giving tax breaks to people who don't need them and start investing in the things that will help our economy grow and put people back to work," he said.

"That's how we'll make this country a little fairer, a little more just, and a whole lot stronger."

Read more on:    barack obama  |  us
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
20 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/Motoring
 

Thirty and still single? There’s hope!

Are you thirty and still single, without even a hint of a prospect on the horizon? Then read this!

 
 

Men24.com

SA’s Playboy Playmate of the year in action!
12 lies everyone accepts as fact
Hottie of the day: Charlotte
Breakup text goes viral and it’s hilarious!

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Festive gifts!

Check out our awesome range of festive gifts to make everyone’s wishes come true. Shop now!

Seen something you like in our catalogue?

Find the perfect gift and save up to R5000 – As seen on the catalogue. Hurry and shop now!

Save up to R2200 on electronics! – As seen in the catalogue

Wishing for tech gadgets this festive? Save up to R2100 on hot tech products at kalahari.com. While stocks last. Shop now!

Up to 35% off books

Save up to 35% on the latest page-turners. While stocks last. Shop now!

Good Morning, Mr Mandela by Zelda la Grange

Good Morning, Mr Mandela tells the extraordinary story of how a young woman had her life, beliefs, prejudices and everything she once believed in utterly transformed by the greatest man of her time. Now R221. Pre-order now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

You have the ability to lead and take up campaigns that can sway the crowd and make things happen. There can be a slightly...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.