Obama budget plan to tax the rich

[olaniyi001]

US President Barack Obama has proposed to raise taxes on the wealthy in his 2013 budget, prompting an election year spending showdown with Republicans.
The proposal includes $1.5 trillion (£950bn) in new taxes, much from allowing Bush-era tax cuts to expire. He will also call for a Buffett Plan tax hike on millionaires, as well as infrastructure projects.




bbc