U.S. President Barack Obama says if the country is serious about
reducing the deficit, it must ask its wealthiest citizens to pay higher
In his weekly address Saturday, the president - who heads the Democratic
Party - said he will not compromise his tax plan because it was a
central principle of his re-election campaign.
urged Republicans in the House of Representative to vote in favor of the
plan that protects the middle class by preventing a tax hike on the
first $250,000 of everybody's income. The Senate has already passed the
The U.S. leader said if Congress does nothing, the taxes of every U.S.
household will increase automatically on January 1.
Senator Marco Rubio said in the Republican address Saturday, that tax
increases will not solve the $16 trillion debt. Rubio said only economic
growth and a reform of entitlement programs will help control the debt.