'Buffett is usually' is not a campaign 'trick', says Obama

U.S. President Barack Obama defended the "Rule of Buffett's" proposal to raise taxes on the rich denied Wednesday that it was the campaign "stunt" that little to address the deficit or stimulate the growth of employment.

"It's not just a matter of redistribution of wealth," Obama said. "It's not just a matter of justice. It is also on economic growth. It also means the ability to make investments that we must follow, and what we as a country, being willing to pay for these investments and the closure of our deficit."

The President lashed out at critics who say he said, "It's just a trick, only tax millionaires and billionaires, just to establish the rule of Buffett will not do enough to fill the gap."

He continued: "I agree, it's not all you need to do to fill this gap, but the idea that it does not solve the whole problem does not mean that we should not do it at all .. There is enough justification for inaction in Washington, we must, of course, no excuses. Rule Buffett is something that will help you to move in the right direction. "The proposal is named after billionaire investor Warren Buffett, who said that he pays an effective tax rate is lower than his secretary because the Tax Code treats its investment income, in contrast to his salary. Legislation aimed to people who earn more than $ 1 million a year to pay not less than 30 percent of their income in the form of the Senate scheduled to vote on Monday. Even if it passes, under the leadership of the Republican House of Representatives is safe to reject the bill.

The measure will raise about $ 47 billion over ten years, the drop in the ocean of public expenditure and debt, but Obama made it so that it might be enough to save some of the popular government programs - including financial aid for students, research and development infrastructure - which contribute to economic growth. Republicans argued that the proposal would raise money from the investor class in the private sector, who say the growth will be constrained.

"Unfortunately, the administration has promised to focus on jobs to lose another day on the political developments that will not take a single person in the chain of unemployment," Mitch McConnell, Minority Leader in the Senate, said Wednesday.

"With millions of jobs, gas around $ 4 per gallon, and the election of seven months, Republicans have asked the president to join us to support dozens of jobs and energy costs that have been building is located at an impasse, but in the majority of Democrats in the Senate. We should be directed to the work and the law of conservation of energy that can pass, rather than tax increases show a voice destined for failure, "said McConnell.

Obama has made clear that he will use this as a political weapon against all but certain Republican candidate Mitt Romney.

To emphasize the argument of Warren Buffett, Obama addressed an audience of millionaires and their assistants.

"It's not that these people are enthusiastic to pay more taxes - that's what I always clear," he said. "I do not even meet people who love taxes. Nobody likes to pay taxes. In a perfect world, none of us will have to pay all the taxes we would have to pay any deficit, and schools and bridges and roads, and defense and take care of our veterans, all the magic. "