The Fix: deficit reduction

President Obama picks a political fight on taxes

When President Obama unveils his deficit-reduction plan this morning in the Rose Garden, the proposal sure to draw the most attention is his call for people making $1 million or more to pay more in taxes.


U.S. President Barack Obama makes a speech to a joint session of Congress at the Capitol in Washington, D.C., U.S., on Thursday, Sept. 8, 2011. (Joshua Roberts/Bloomberg)
Obama is touting the proposal as the “Buffett Rule”, an homage to billionaire investor Warren Buffett who has repeatedly insisted the wealthy should be paying more taxes.

And there are (smart) politics everywhere in it. Here’s why.

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