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Obama Continues Pushing For Buffett Rule

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The U.S. Senate is scheduled to vote on the Buffet Rule on Monday.
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The U.S. Senate is scheduled to vote on the Buffet Rule on Monday.

The government is broke, but any mention of a tax increase is anathema to the GOP. Instead of trying to bring in revenue through raising taxes, Republicans want to lower taxes, something Democrats and many economists say is completely irresponsible.

Meanwhile, President Obama has been trying to drum up support for the so-called 'Buffett Rule,' but he hasn't been winning over any Republicans. The majority of the GOP has signed a pledge opposing any tax increases, and they say the vote is just a political stunt by Democrats.

But Sen. Ben Cardin (D-Md.) denies the charge.

"Well I'll tell you, I think dealing with our economic realities is not politics," says Cardin. "I think that's what we need to do. We need to have a responsible game plan where we invest in America's future with job growth."

Cardin says the government needs any extra revenue it can get.

"We need to put more money into our roads, our bridges, our energy grids, and education," he says. "All of that needs more resources. Well, where do you get the money from? So I think the Buffett Rule is a matter of basic fairness, of basic justice."

Republicans have been fighting to unwind regulations and cut taxes, which they say will give businesses more freedom and money to invest.

The U.S. Senate is scheduled to vote on a tax increase on millionaires Monday.

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