President Obama made a case in Nevada for tax increases on the rich, in keeping with the ‘Buffett Rule,’ but he maintained that his argument was not an appeal to “envy” but “math,”
“A quarter of all millionaires pay lower tax rates than millions of middle-class households,” Obama said today. “Now, that’s not fair. That doesn’t make sense.”
Noting that “Bill Gates does not envy the rich,” Obama said that his proposed tax increase “has nothing to do with envy [and] it has everything to do with math:”
Americans understand if I get a tax break I don’t need and a tax break the country can’t afford, then one of two things are going to happen. Either it’s going to add to our deficit or somebody else is going to have to make up the difference.
A senior suddenly is going to have to start paying more for their Medicare, or a student is going to have to pay more for their student loan, or a family that’s trying to get by, they’re going to have to do with less. And that’s not right.
A senior suddenly is going to have to start paying more for their Medicare, or a student is going to have to pay more for their student loan, or a family that’s trying to get by, they’re going to have to do with less. And that’s not right.
