“If you’re earning a million dollars a year, you shouldn’t get special
tax subsidies or deductions. On the other hand, if you make under 250,000
dollars a year, like 98 per cent of American families, your taxes shouldn’t
go up. You’re the ones struggling with rising costs and stagnant wages.
You’re the ones who need relief,” he said.
“Right now, because of loopholes and shelters in the tax code, a quarter
of all millionaires pay lower tax rates than millions of middle-class
households.
Democrats have hammered Republicans in Congress for supporting tax breaks that
favour the wealthy. Republicans staunchly oppose tax hikes, even on the
richest Americans, arguing they would hurt a fragile economic recovery.
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