U.S. President Barack Obama on Saturday called for increasing tax rates for the wealthiest Americans, noting that the advantages granted by the current tax system for people with higher incomes is unfair.
“Today, the wealthiest Americans pay taxes to one of the lowest in fifty years,” said the president in his weekly radio and Internet.
The president said that under the current tax system, such as billionaire investor Warren Buffett and Microsoft founder Bill Gates are paying lower rates than their secretaries.
“That’s not fair. It makes no sense,” said Obama. “We continue to give low rates to higher-income Americans like me, or Warren Buffett or Bill Gates, who do not need it and never have asked, or do we continue to invest money to grow our economy and keep insurance? Because we can not do both, “he said.
These comments come as Congress prepares to consider a project that could increase tax rates on individuals earning over a million dollars a year and keep them unchanged for those earning below $ 250,000 annually.
Obama urged Americans to call their representatives in Congress and ask them if they support this project.
“Call them, write them a letter, let them a visit and tell them to stop giving tax breaks to people who do not need it and start to invest in things that will help grow our economy and put people to work,” the president.
“That is how we will do this country a little more fair, only a little more, and make it much stronger,” he said.
Category: Business News