Obama Urges Taxes on Rich

In his weekly radio and video address on Saturday, President Obama discussed his jobs plan in brief and warned Americans to expect to "pay their fair share" to help narrow the U.S. deficit. It's the wealthy sector who will be required to shell out more money on taxes as part of Obama's $447 billion jobs plan, which features tax breaks for workers and small businesses in addition to funds for schools and other public-works projects. This spending "will not add to the deficit," he said, adding, "It will be paid for." Obama concluded that he will outline his plan in detail on Monday to the congressional "supercommittee," when he'll explain how to pay for the plan. The president has continually stressed that America's wealthiest people should be taxed with fewer loopholes, a sentiment many Republicans aren't happy about.