Obama's New Economic Plan: "Buffet's Rule"
The New York Times has the details of the economic plan President Obama will introduce on Monday. It's mostly about taxes -- a minimum tax for millionaires. But then there's this:
Mr. Obama, in his plan, will call for more than $300 billion in 10-year savings from Medicare and Medicaid but not for changes in Social Security.
The increased taxes may not pass be accepted by Republicans. So what's the point?
The Obama proposal has little chance of becoming law unless Republican lawmakers bend. But by focusing on the wealthiest Americans, the president is sharpening the contrast between Republicans and Democrats with a theme he can carry into his bid for re-election in 2012.
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