Obama: Tax the rich to grow the economy

USA Today reports socialism. Tax the super-rich to spend even more money on the usual stuff. Here's President Obama:

Right now, the share of our national income flowing to the top 1% has climbed to levels last seen in the 1920s. And yet those same people are also paying taxes at one of the lowest rates in 50 years. You might have heard this, but Warren Buffett is paying a lower tax rate than his secretary.

That's wrong. It isn't fair. And it's time for us to choose which direction we want to go in as a country. Do we want to keep giving tax breaks to the wealthiest Americans like me, or Warren Buffett, or Bill Gates -- people who don't need them and never asked for them? Or do we want to keep investing in things that will grow our economy and keep us secure? That's the choice.

I've told you where I stand. Now it's time for members of Congress to do the same. In the next few weeks, they're going to vote on something called the Buffett Rule: If you make more than $1 million every year, you should pay at least the same percentage of your income in taxes as middle class families do. On the other hand, if you make under $250,000 a year -- like 98 percent of American families do -- your taxes shouldn't go up. It's that simple."

"These investments -- in things like education and research and health care -- haven't been made as part of some scheme to redistribute wealth from one group to another. They've been made by Democrats and Republicans for generations because they benefit all of us, and lead to strong, durable economic growth.

Investments in education sure have made things pricey. Anyway, no word on when Obama expects Harvard to stay paying "their fair share".