Reuters - President Barack Obama said on Saturday that Americans need to be ready to "pay their fair share" to narrow the deficit, previewing his proposals to Congress that are expected to include more taxes on the rich.
In his weekly radio and video address, the Democrat said his $447 billion jobs plan that features tax breaks for workers and small businesses, plus funds for public works projects and schools, "will not add to the deficit. It will be paid for."
"On Monday, I'll lay out my plan for how we'll do that -- how we'll pay for this plan and pay down our debt by following some basic principles: making sure we live within our means and asking everyone to pay their fair share."
Obama has repeatedly argued for the wealthiest Americans to face higher taxes with fewer loopholes and exceptions as part of the effort to ensure the U.S. debtload remains in control.
Republicans, who have raised the volume on Washington's fiscal problems as the November 2012 presidential election nears, see higher taxes on the wealthy as a problem for jobs, given that entrepreneurs and companies would be strongly affected.
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Blog author's comments - Will someone in the media ask the President to explicitly define “fair share”? I doubt that we will receive a clear answer. Obama's Jobs Bill should be dead in the House, and I doubt that it will pass in the Senate.
This whole facade is a campaign stunt. He must be out of the White House in 2013. I pity the Republicans who inherit this mess that Obama and his party have created.
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