Obama Demands Tax on Millionaires

It’s not expected to become law, but the fight over President Obama’s 2013 budget and the ideas in it has nevertheless begun. In an address at a community college in Annandale, Va., the POTUS announced his plan for the fiscal future that was more like a reelection speech, and recalled the confidence he had during his 2008 campaign. He touted the fact that “over the last 23 months, we’ve added 3.7 million new jobs. The recovery is speeding up." He called for more taxes on millionaires, including on the dividends they make, saying it’s “not class warfare” but “common sense.” The budget he unveiled will call for $3.8 trillion in spending and exceeds his promise of annual deficits of $600 billion every year, showing that Obama wants to put austerity on hold and put the economy back on track. The president said legislative complacency is not an option, and called on lawmakers to pass a further extension of the payroll-tax cut this month “without drama and without delay and without linking it to other ideological issues.” Good luck with that.