US President said Bush-era tax cuts for the wealthiest American should be ended, but he calls on Congress to continue the tax cuts for those earning less than $250,000 per year.
President Obama says it's time the USA ended tax cuts benefiting richer Americans, but asked Congress to extend for a further year cuts benefiting those earning less than $250,000.
Republicans say removing the tax cuts for the wealthy will harm job creation by small business owners, but the Obama camp is countering with the claim that 97% of the owners of such enteprises would fall into the sub-$250,000 tax bracket.
Both candidates for the 2012 US election are currently vying to present themselves as the most friendly to middle-class voters.
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