All Americans should be involved in the effort to reduce the deficit. This is the message sent on Monday by Barack Obama from the White House Rose Garden. The U.S. president, who presented his program of deficit reduction, confirmed a tax plan of 1500 billion to the deficit of 3000 billion over the next ten years. "We can not get out of this abyss only by reducing spending. It is normal that we ask everyone to pay their fair share, "said the president.
In Focus: the wealthiest Americans. Barack Obama chose not to extend beyond the end of 2012, the expiration date, the tax breaks granted to wealthier by the administration of his predecessor, Republican George W. Bush (800 billion dollars and would be recovered over ten years)."We can not afford these tax rates low for the rich. We can not help us while we are suffering large deficits, "he says.
The most significant proposal remains the introduction of a tax, "Buffett," the name of the investor Warren Buffett who has proposed. As expected, Bush did not go into details about the conditions of its applications but according to the New York Times, the tax on millionaires that will concern only 0.3% of taxpayers.
"This is not the class struggle is mathematical"
Responding to criticism from his Republican opponents, who accuse him of wanting to punish those who have succeeded and discourage the "job creators," Barack Obama said that "it is not the class struggle is mathematics ".He said "any reform plan will increase revenues to help reduce our deficit. This must be part of the formula. " Democrat for President, "the middle-class taxpayers should not pay more taxes than millionaires and billionaires. It is loud and clear, and difficult to contradict. I will not support a plan that puts the entire burden of deficit reduction on the shoulders of the average American. "
The project also includes U.S. President down $ 580 billion in mandatory spending on social programs, including Medicare (health insurance for the elderly) and Medicaid (the federal program for the poor).But Barack Obama has warned that he would veto any proposal that would reduce these benefits without requiring an increased effort in return for the wealthiest Americans and big business.
The President was prepared to lower taxes on companies providing launch an overhaul of the tax code to eliminate some tax loopholes, such as offering tax exemptions to businesses through the acquisition of business jets (gain total of 700 billion). It is also banking on an economy 1.1 trillion dollars over ten years because of withdrawals from Afghanistan and Iraq.
Propostion of "not serious"
But the camp of the Republicans who control the House of Representatives, has already expressed his displeasure."Threatening to veto, massively increase taxes to save ghosts and build on a reform of social programs, it is not a recipe for economic growth and labor market," said the leader Senate Republicans, Mitch McConnell. John Boehner, chairman of the House of Representatives, it was found that the contribution of Obama's bipartisan commission was not "serious."
The proposals of the White House must still be forwarded to a bipartisan parliamentary committee which will meet in late November. This means that the bill is unlikely to be adopted in the state.
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