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Obama budget targets America's wealthiest

Published 14/02/2012

President Barack Obama's next budget will hit America's wealthy with higher taxes to help cut $4trn from the country's deficit over the next 10 years.

His $3.8trn dollar election-year budget - as much a political document as spending plan - sets him apart from Republicans opposed to higher taxes.

Mr Obama rejected Republican charges of class warfare. "This is about the nation's welfare," he said.

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