Obama sets out tax rises for rich in budget

Republicans slam $3.8tn budget, which includes tax hikes on wealthy and new jobs programmes, as an "insult to taxpayers"

    Barack Obama, the US president, has submitted a 2013 budget and said the new proposal, including tax hikes on the rich and jobs programmes, would expand economic growth in the country.

    Obama said on Monday that his $3.8tn budget would create jobs, change an economic system tilted towards the wealthy and make long-term cuts to deficits now set to top $1tn four years in a row.

    But the blueprint immediately sunk into the mire of Washington politics, with Republicans calling it an "insult" to taxpayers, a mere "campaign document" and an example of an America "drowning in debt".

    Alan Fisher reports from Washington DC.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Double standards: 'Why aren't we all with Somalia?'

    Double standards: 'Why aren't we all with Somalia?'

    More than 300 people died in Somalia but some are asking why there was less news coverage and sympathy on social media.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Kobe Steel: A scandal made in Japan

    Kobe Steel: A scandal made in Japan

    Japan's third-largest steelmaker has admitted it faked data on parts used in cars, planes and trains.