25 Jan '12, 2am

US President Barack Obama demands that millionaires pay at least 30% tax, in State of the Union address #SOTU

President Barack Obama on Tuesday demanded millionaires pay at least 30 per cent tax, in an election-tinged State of the Union address that nodded to anger over the low tax rate of his rival Mitt Romney. -- PHOTO: AP WASHINGTON (AFP) - President Barack Obama on Tuesday demanded millionaires pay at least 30 per cent tax, in an election-tinged State of the Union address that nodded to anger over the low tax rate of his rival Mitt Romney. 'We need to change our tax code so that people like me, and an awful lot of Members of Congress, pay our fair share of taxes,' Mr Obama said in remarks prepared for the joint session of Congress. 'If you make more than US$1 million (S$1.27 million)a year, you should not pay less than 30 per cent in taxes.' Pledging no tax increases for those earning under US$250,000 a year, Mr Obama doubled-down on an election-year gambit which casts him as ...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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