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Obama Presses 'Buffett Rule' Tax Pitch

by AP posted Apr 11 2012 11:32AM

WASHINGTON (AP) - President Barack Obama says his call for raising taxes on millionaires is not a redistribution of wealth, but a way to free up money for crucial investments in the U.S. economy.
Pitching the so-called Buffett rule for the second straight day, Obama dismissed the notion that the plan is a gimmick. He says it is necessary in order to tackle the country's massive deficits.
The rule is named after billionaire investor Warren Buffett, who says he pays a lower tax rate than his secretary. Obama was flanked during his remarks at the White House Wednesday by several business executives and their assistants who he says agree with the principles in the Buffett rule.
The Senate will vote on the plan next week, though it has little chance of passing Congress.
Filed Under :
Topics : Politics
Location : Washington
04/11/2012 11:34AM
Obama Presses 'Buffett Rule' Tax Pitch
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