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Obama Wants `Buffett Rule’ Tax

President Barack Obama address all the winners of the "Campus Champions of Change" competition at the beginning of the program.

WASHINGTON (AP) — President Barack Obama is reviving a tax proposal that stands as a symbol of the Democrats’ efforts to portray themselves as champions of economic fairness, though it has no chance of passing Congress.

In his weekly radio and Internet address, Obama calls on Congress to increase taxes on millionaires.

Obama calls the plan the “Buffett Rule” for Warren Buffett, the billionaire investor who says the middle class pays a greater share of its income in taxes than the wealthy.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


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