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Wednesday, January 25, 2012

The State of the Union, 2012

Tax reform should follow the Buffett Rule. If you make more than $1 million a year, you should not pay less than 30 percent in taxes. And my Republican friend Tom Coburn is right: Washington should stop subsidizing millionaires. In fact, if you’re earning a million dollars a year, you shouldn’t get special tax subsidies or deductions. On the other hand, if you make under $250,000 a year, like 98 percent of American families, your taxes shouldn’t go up. (Applause.) You’re the ones struggling with rising costs and stagnant wages. You’re the ones who need relief.

Now, you can call this class warfare all you want. But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense.

Highlights from the speech:

Enhanced version with graphics and stats, from the White House:

Full text here. And something new this year, a "making of" video:


Frank said...

My overall reaction was, he was much too kind. I think he should have addressed more particulars like the Canadian pipeline and demonstrated beyond a doubt how the Republican Congressmen "have no clothes". He will have to get more gutsy to win in November.

Russ Manley said...

I hear you. But this was the State of the Union address, which calls for more grace and dignity than a campaign speech.

Of course, the way the GOP clown car is going, he may not have to say a word about them to win a landslide in November. They're doing a damn good job of cutting their own and each other's throats, seems to me.

Frank said...

Seems to us that's so, but I'm afraid the die hard Republicans overlook all flaws in their zeal to claim the Presidency.

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