[quote][B]President Barack Obama has called for raised taxes on the rich as well as cuts in government spending in what he termed a balanced approach to cutting the huge US budget deficit.[/B]
In a speech in Washington DC he outlined a package of tax increases and spending cuts aimed at reducing the deficit by $4tn (£2.45tn) by 2023.
He attacked Republican plans he said would harm the poor and elderly.
Republicans have said any increase in taxes is a "non-starter".
"We have to live within our means, reduce our deficit, and get back on a path that will allow us to pay down our debt," Mr Obama said in a speech at George Washington University.
"And we have to do it in a way that protects the recovery, and protects the investments we need to grow, create jobs, and win the future."
The ballooning US deficit is set to be a top issue in the 2012 election campaign, and in recent weeks, Republicans have laid out their own plan to cut it, based on big reductions in healthcare and social programmes for the poor and elderly and in education spending.[/quote]Source
[URL]http://www.bbc.co.uk/news/world-us-canada-13067836[/URL]
Taxes on rich - meant to put that in title
[URL="http://www.bbc.co.uk/news/world-us-canada-13067836"] [/URL]
Good.
Incoming OMG SOCIALIST from Glaber.
Let's tax the poor people who can't pay them instead.
[url]http://www.facepunch.com/threads/1078488-Obama-calls-for-4-trillion-in-deficit-reduction[/url]
Please use search.
Sorry, you need to Log In to post a reply to this thread.
