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BBC – Obama Calls for
‘Buffet’ Rule on Tax
Transcript
Right now we are
poised to spend nearly 1 trillion dollars more on what was supposed to be a
temporary tax break for the wealthiest 2% of Americans. Right now because of loop holes and shelters
in the tax codes a quarter of all millionaires pay lower tax rates than
millions of middle class households.
Right now Warren Buffet pays a lower tax rate than a secretary. Do we want to keep these tax cuts for the
wealthiest Americans or do we want to keep our investments in everything else,
like education, medical research a strong military and care for our veterans,
because if we are serious about paying down our debt we can’t do both. The American people know what the right
choice is, so do I. As I told the
speaker this summer I am prepared to make more reforms that reign in the long
term cost of medi-care and medi-aid and strengthen social security as long as
those programmes remain a guarantee of security for seniors. But in return we need to change our tax code
so people like me, and an awful lot of members of congress pay our fair share
of taxes.
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