President Obama Makes the Case for the Buffett Imperative

President Obama was in Florida today to talk concerning our economy, and what he called the essence of America: the idea that every person who works hard should be able to do well. America has forever been a place where anybody who's willing to work and play by the rules can make it. A place where success doesn’t trickle down from the top, it grows from the bottom; it grows outward beginning the heart of a vibrant middle class.
President Obama
Instead of giving extra than a trillion dollars in tax breaks to the very wealthiest Americans those who make more than $250,000 a year we need to be investing in the equipment like education and research and health care. These are the same investments we’ve been making for generations since they lead to strong, broad based economic growth that helps every person as the President explained:
What drags our whole economy down is when the benefits of economic growth and productivity go only to the few, which is what’s been occurrence for over a decade now, and gap between those at the very, very top and every person else keeps growing wider and wider and wider and wider.

The fact is, the share of our national income going away to the top 1 percent of earners is as high as it’s been since the 1920s. And those similar people are paying taxes at one of the lowest rates in 50 years. To address this imbalance in our tax system, President Obama has proposed the Buffett Rule, based on the easy idea that people who make more than $1 million each year pay at least the similar share of their income in taxes as middle-class families do. With the Buffett imperative in place, the President said:

It makes it affordable for us to be able to say for individuals people who make under $250,000 a year like 98 percent of American families do next your taxes don’t go up. And we can still create those investments in things like student loans and college and science and infrastructure and all the things that create this country great.