WASHINGTON (AP) — Picking an election-year fight with Republicans, President Barack Obama is urging Congress to boost taxes on millionaires, traveling to Florida to make a populist pitch on an issue that draws a sharp contrast with GOP presidential candidate Mitt Romney.
Obama is outlining his support for the so-called "Buffett rule" in Boca Raton, Fla., arguing that wealthy investors should not pay taxes at a lower rate than middle-class wage earners.
The push for the Buffett rule, named after billionaire investor Warren Buffett, comes ahead of a Senate vote next week and as millions of Americans prepare to file their income tax returns. The plan has little chance of passing Congress, but Senate Democrats say the issue underscores the need for economic fairness.
Obama's team has made the Buffett rule a key part of its message, saying it shows clear differences with Romney, who has opposed the plan and withstood criticism from Democrats for paying about 15 percent in federal taxes for 2011 on income mostly derived from investments.
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