U.S. Budget 2013: Obama wants more taxes from rich

(MVO News): The U.S. government wants to reduce the budget deficit in the coming year. For the financial year 2013, President Obama is planning additional billion dollars for Jobs and wants the rich Americans to pay more taxes.

His promise of greater economic justice is to be redeemed. A US news paper reported that the draft budget of the President goes from a rising deficit of 901 billion dollars in fiscal 2013, which begins in October.  White House still expects a deficit of over 1.3 trillion dollars. Obama will present his budget proposal officially on Monday.

The targeted for the next financial year 901 billion is equivalent already 5.5 percent. All in all, the deficit will be eliminated over ten years to four billion dollars, according to the draft.

Households with incomes of more than a million dollars a year will pay at least 30 percent tax to the Government according to the draft, many of the super rich in the U.S. paying far less income. Obama also requested in his budget to support the battered labor market.