TaxPersonal TaxObama lines up tax hike for the rich

Obama lines up tax hike for the rich

US president lines up tax rise as part of his plans to reduce country's deficit

US WEALTHY must pay the same tax rate as the middle classes, said president Barack Obama.

In a speech yesterday, the president said those earning more than a million dollars a year should pay as similar rate to the middle classes.

The idea that a hedge fund manager should pay the same tax rate as a plumber was not class warfare, but ‘math’, Obama added.

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