In his third State of the Union address to the nation, President Barack Obama preached that 'fair' economic policies and higher taxes on the rich is the way to bolster economic growth.
Obama indirectly aimed many shots at Republican Presidential hopeful Mitt Romney as he discussed his “Warren Buffet Rule,” which would ensure that anyone earning over $1 million would pay at least 30 percent in taxes.
This would affect the likes of Romney, who paid a 13.9 percent tax over the last two years, despite earning over $40 million during that time.
Buffett once said that it's unfair his secretary pays a higher tax rate than he does. Well last night, Buffett's secretary Debbie Bosanek attended the address in First Lady Michelle Obama's box!
As President Obama said:
“Millions of Americans who work hard and play by the rules every day deserve a government and a financial system that do the same.
It's time to apply the same rules from top to bottom: No bailouts, no handouts and no cop-outs. An America built to last insists on responsibility from everybody.
We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by.
Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.”
The President continued:
"Now, you can call this class warfare all you want. But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense."
And for the Republicans who say that Obama is apologizing for America, Barack straight up says they don't know what they're talking about.
"From the coalitions we’ve built to secure nuclear materials, to the missions we’ve led against hunger and disease; from the blows we’ve dealt to our enemies; to the enduring power of our moral example, America is back.
Anyone who tells you otherwise, anyone who tells you that America is in decline or that our influence has waned, doesn't know what they’re talking about."
It surely will be an interesting race in the next several months as President Obama squares up against whomever he faces in November.