RSS COFFEE FEED: President Barack Obama said he will press Congress to revise tax breaks that help rich Americans pay lower tax rates than many wage-earners, as he rallied congressional Democrats around a populist election-year message. “We’re go
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- Date: Fri, 27 Jan 2012 22:10:15 -0800 (PST)
President Barack Obama said he will press Congress to revise tax
breaks that help rich Americans pay lower tax rates than many wage-
earners, as he rallied congressional Democrats around a populist
election-year message.
“We’re going to push hard for the Buffett rule,” Obama told Democratic
members of the U.S. House of Representatives at a party meeting in
Cambridge, Maryland.
The president said he’s seeking minimum taxes on wealthy Americans
“not out of envy, but out of a sense of fairness, a sense of mutual
responsibility.” The proposal’s nickname comes from a statement by
Berkshire Hathaway Inc. (BRK/A) Chairman Warren Buffett, who has said
he shouldn’t pay taxes at a lower rate than his secretary.
Obama told fellow Democrats that the country is “moving in the right
direction, thanks to your efforts, thanks to some tough votes that all
of you took.”
Although the Commerce Department today said the U.S. economy expanded
at a less-than-forecast 2.8 percent annual pace in the fourth quarter,
Obama said “we righted the ship, we did not tip into a Great
Depression.”
Vice President Joe Biden, speaking to the lawmakers earlier today,
said Democrats have a chance to win control of the House of
Representatives in November’s election.
“I really do think we’re going to win back the House,” Biden said.
Strategy Session
The House Democrats had gathered at a three-day strategy session,
honing plans to win a net 25 seats to regain the House majority they
lost in 2010. Democrats now hold 191 House seats, while Republicans
have 242. There are two vacancies.
Biden, a former Delaware senator, said he will campaign for Democrats
in what are predicted to be tough races in Pennsylvania (BEESPA),
Ohio, Michigan, Iowa, New Hampshire and Florida (BEESFL).
“We cannot succeed unless you all come back,” he told the lawmakers.
In an NBC News/Wall Street Journal poll conducted Jan. 22-24,
Democrats had a six percentage point edge over Republicans among
registered voters who were asked which party they preferred to lead
Congress after the next election. The survey, which had a margin of
error of plus or minus 4.7 percentage points, indicated that public
sentiment had shifted in Democrats’ favor. In June, the survey showed
that registered voters were evenly split between the parties.
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