We should not hold middle-class tax cuts hostage any longer. We are ready this week, if they want, to give tax cuts to every American making $250,000 or less. that's 98, 97 percent of Americans. Now, for any income over this amount, the tax rates would just go back to what they were under President Clinton. This isn't to punish folks who are better off -- God bless them -- it's because we can't afford the $700 billion price tag.
-- President Barack Obama on his proposed tax strategy, 8 September 2010
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