{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='President Obama comment on tax reform for America\u0026#39;s richest' data-url='/boclips/videos/5c54bb65d8eafeecae124c92' data-video-url='/boclips/videos/5c54bb65d8eafeecae124c92' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nPresident Obama comment on tax reform for America\u0026#39;s richest\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide of President of the United States of America Barack Obama standing on the podium in front of the US Vice President Joe Biden and US Speaker of the House John Boehner,UPSOUND (English) John Boehner: \"Members of Congress, I have...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of President of the United States of America Barack Obama standing on the podium in front of the US Vice President Joe Biden and US Speaker of the House John Boehner,\u003cbr/\u003eUPSOUND (English) John Boehner: \"Members of Congress, I have the high privilege and honour of presenting to you the President of the United States.\"\u003cbr/\u003eUPSOUND (English) Barack Obama: \"Thank you, thank you.\"\u003cbr/\u003e2. SOUNDBITE (English) Barack Obama, President of the USA:\u003cbr/\u003e\"Right now, because of loopholes and shelters in the tax code, a quarter of all millionaires pay lower tax rates than millions of middle-class households. Right now, Warren Buffett pays a lower tax rate than his secretary.  Do we want to keep these tax cuts for the wealthiest Americans? Or do we want to keep our investments in everything else?\"\u003cbr/\u003e3. Cutaway wide side shot of Obama at the podium while the audience is applauding \u003cbr/\u003e4. SOUNDBITE (English) Barack Obama, President of the USA: \u003cbr/\u003e\"We need to change our tax code so that people like me, and an awful lot of Members of Congress, pay our fair share of taxes. Tax reform should follow the Buffett rule: If you make more than a million dollars a year, you should not pay less than 30 percent in taxes. And my Republican friend Tom Coburn is right: Washington should stop subsidising millionaires. In fact, if you're earning a million dollars a year, you shouldn't get special tax subsidies or deductions. On the other hand, if you make under 250,000 dollars a year, like 98 percent of American families, your taxes shouldn't go up. You're the ones struggling with rising costs and stagnant wages. You're the ones who need relief. 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.\"\u003cbr/\u003e5. Cutaway of Obama on podium, Biden and Boehner behind him applauding \u003cbr/\u003e6. SOUNDBITE (English) Barack Obama, President of the USA: \u003cbr/\u003e\"No American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. From now on, every multinational company should have to pay a basic minimum tax. And every penny should go towards lowering taxes for companies that choose to stay here and hire here in America.\" \u003cbr/\u003e7. Obama at the end of speech ( ++partially mute++) \u003cbr/\u003eIn his annual State of the Union address on Tuesday, President Barack Obama laid out a blueprint for a \"fairer America\" and pledged to make millionaires pay higher taxes. \u003cbr/\u003e\"We need to change our tax code so that people like me, and an awful lot of Members of Congress, pay our fair share of taxes,\" he said. \u003cbr/\u003eHaving watched his Republican adversaries pound him for weeks, Obama got his turn on Tuesday, using his State of the Union speech to land the first major counterpunch of the still-forming 2012 election campaign.\u003cbr/\u003eIt came before a national television audience of (m) millions that the Republican candidates can only envy, even if their fiery debates are turning heads.\u003cbr/\u003eObama didn't mention Republican front-runners Mitt Romney or Newt Gingrich in his third State of the Union address.\u003cbr/\u003eBut, he demanded economic fairness for Americans on the same day that Romney revealed paying a relatively modest 14 percent in taxes on his 2010 21 (m) million US dollar income.\u003cbr/\u003e\"You can call this class warfare all you want,\" Obama said, \"but asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense.\"\u003cbr/\u003eObama could not use the State of the Union's formal setting for a purely political speech.  \u003cbr/\u003eBut he invited a symbolically telling guest to the crowded House chamber: the secretary who works for investor Warren Buffett, a billionaire who says the U.S. tax code unwisely lets him pay a lower tax rate than his clerical staff.\u003cbr/\u003eObama called his new proposal for a minimum 30 percent tax on (m) millionaires the \"Buffett rule\".\u003cbr/\u003e\"If you make more than a (m) million dollars a year, you should not pay less than 30 percent in taxes.\"\u003cbr/\u003eThe tax quarrel is one of the philosophical differences splitting the two parties, which have grown so hostile in Congress that it's impossible for the president to pass anything but the blandest of initiatives. \u003cbr/\u003eLast year's showdowns over spending bills and the debt ceiling brought the government to the brink of shutdowns and triggered a credit rating downgrade.\u003cbr/\u003eYet a number of lawmakers, especially those elected with help from the tea party movement advocating limited government and low taxes, answer to constituents who detest compromise and say a federal government meltdown might not be a bad idea.\u003cbr/\u003ePresident Obama also urged American businesses to bring jobs back to the U.S. and argued the tax breaks for companies that outsource should be eliminated. \u003cbr/\u003e\"No American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. From now on, every multinational company should have to pay a basic minimum tax,\" Obama said.  \u003cbr/\u003eRepublican congressional leaders declared Obama's ideas dead in dismissive statements early on Tuesday, hours before his speech. \u003cbr/\u003eObama went through the number of issues, pitching ideas for job training, clean energy and other topics.\u003cbr/\u003eThese issues will play a role in the general election, once the Republicans pick their nominee. \u003cbr/\u003eBut the dominant issue will be Obama's handling of jobs and the economy.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv 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