Obama denounces system, calls for economic fairness
Source: Agencies |
January 26, 2012, Thursday
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US President Barack Obama used his annual State of the Union address to denounce economic inequality, drawing a battle line with Republicans ahead of what is expected to be a tough fight for re-election.
The nationally televised speech before a joint session of Congress put Obama back in the spotlight after months of being overshadowed by the fierce race among Republicans vying to be his opponent in the November election.
At the core of Obama's Tuesday address was the improving but deeply wounded economy - the matter driving Americans' anxiety and the one likely to determine the next president.
With little hope of getting a divided Congress to approve his agenda, Obama spoke with voters in mind. He outlined a vastly different vision for fixing the country than the one pressed by the Republicans. He pleaded for an active government that ensures economic fairness for everyone, as his opponents demand that the government back off and let the free market rule.
He called for more taxes on the rich and a flurry of aid for the middle class. Restoring a fair shot for all is "the defining issue of our time," he said.
"We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules," he said.
Republicans applauded infrequently. In the party's formal response, Indiana Governor Mitch Daniels denounced the speech as "pro-poverty" and Obama's tactics as divisive.
Even before Obama spoke, the two top contenders for the Republican presidential nomination offered criticism. Newt Gingrich, a former speaker of the House of Representatives, questioned whether Obama would "show a willingness to put aside the extreme ideology of the far left." Mitt Romney, a former Massachusetts governor, said Obama was proposing "more taxes, more spending, and more regulation."
But Obama's timing could not have been better. Earlier Tuesday, Romney released his federal tax returns under political pressure, revealing that he earned nearly US$22 million in 2010 and paid an effective tax rate of 14 percent. Obama proposed a minimum tax rate of 30 percent for those earning US$1 million or more a year.
"Now you can call this class warfare all you want," Obama said, responding to a frequent criticism from Republicans. "But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense."
The nationally televised speech before a joint session of Congress put Obama back in the spotlight after months of being overshadowed by the fierce race among Republicans vying to be his opponent in the November election.
At the core of Obama's Tuesday address was the improving but deeply wounded economy - the matter driving Americans' anxiety and the one likely to determine the next president.
With little hope of getting a divided Congress to approve his agenda, Obama spoke with voters in mind. He outlined a vastly different vision for fixing the country than the one pressed by the Republicans. He pleaded for an active government that ensures economic fairness for everyone, as his opponents demand that the government back off and let the free market rule.
He called for more taxes on the rich and a flurry of aid for the middle class. Restoring a fair shot for all is "the defining issue of our time," he said.
"We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules," he said.
Republicans applauded infrequently. In the party's formal response, Indiana Governor Mitch Daniels denounced the speech as "pro-poverty" and Obama's tactics as divisive.
Even before Obama spoke, the two top contenders for the Republican presidential nomination offered criticism. Newt Gingrich, a former speaker of the House of Representatives, questioned whether Obama would "show a willingness to put aside the extreme ideology of the far left." Mitt Romney, a former Massachusetts governor, said Obama was proposing "more taxes, more spending, and more regulation."
But Obama's timing could not have been better. Earlier Tuesday, Romney released his federal tax returns under political pressure, revealing that he earned nearly US$22 million in 2010 and paid an effective tax rate of 14 percent. Obama proposed a minimum tax rate of 30 percent for those earning US$1 million or more a year.
"Now you can call this class warfare all you want," Obama said, responding to a frequent criticism from Republicans. "But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense."
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