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BBC – Obama Calls for‘Buffet’ Rule on Tax
Transcript
Right now we arepoised to spend nearly 1 trillion dollars more on what was supposed to be atemporary tax break for the wealthiest 2% of Americans. Right now because of loop holes and sheltersin the tax codes a quarter of all millionaires pay lower tax rates thanmillions 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 thewealthiest 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 rightchoice is, so do I. As I told thespeaker this summer I am prepared to make more reforms that reign in the longterm cost of medi-care and medi-aid and strengthen social security as long asthose programmes remain a guarantee of security for seniors. But in return we need to change our tax codeso people like me, and an awful lot of members of congress pay our fair shareof taxes.
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