Bachmann: Obama shouldn’t enact ‘warfare’ with new taxes on the rich

“The President’s gimmicks and tax increases on the backs of small business and the middle class won’t grow our economy—only permanent fixes will,” Bachmann said in a statement. “The President should allow for repatriation of American money overseas, truly reform the entire tax code so it [is] fairer and flatter on all Americans, and get rid of job killing regulations, including on the energy sector, which will create millions of jobs.”

Obama has proposed reforming the tax code to get rid of loopholes, as well as increasing taxes on the rich so they pay the same proportion of their income in taxes as other Americans. The President pointed to billionaire Warren Buffett’s willingness to pay a higher share of taxes.

“Either we ask the wealthiest Americans to pay their fair share in taxes, or we’re going to have to ask seniors to pay more for Medicare. We can’t afford to do both,” Obama said in a speech in the White House Rose Garden. “This is not class warfare, it’s math.”

Bachmann said the President’s plan was “compromising the future of our children.

“If Warren Buffett believes he doesn’t pay enough taxes, then he should write a check today to the Treasury, but he and the President shouldn’t enact warfare on the millions of small businesses, on charities and on middle class America with increased tax burdens,” Bachmann said.

Obama addressed accusations of “class warfare” in his speech.

“I reject the idea that asking a hedge fund manager to pay the same tax rate as a plumber or a teacher is class warfare,” Obama said. “I believe the American middle class, who’ve been pressured relentlessly for decades, believe it’s time that they were fought for as hard as the lobbyists and some lawmakers have fought to protect special treatment for billionaires and big corporations.”