Obama: Wealthy Shouldn’t Pay Lower Tax Rates Than Middle-Class Earners

Picking an election-year fight with Republicans, President Barack Obama is urging Congress to boost taxes on millionaires, traveling to Florida to make a populist pitch on an issue that draws a sharp contrast with GOP presidential candidate Mitt Romney.

Obama is outlining his support for the so-called “Buffett rule” in Boca Raton, Fla., arguing that wealthy investors should not pay taxes at a lower rate than middle-class wage earners.

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