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US is back as a global power, says Obama

Business Times - 26 Jan 2012


US is back as a global power, says Obama

He also calls on wealthy Americans like Romney to pay more in taxes

By LEON HADAR
WASHINGTON CORRESPONDENT

ON THE same day that leading Republican presidential candidate Mitt Romney released his tax returns which showed that he paid less in taxes than top wage earners, US President Barack Obama launched his populist re-election campaign during his State of the Union Address.

Among other things, President Obama called on wealthy Americans like Mr Romney to pay more in taxes and pledged to come to the aid of many middle-class Americans who, unlike Mr Romney, live from pay cheque to pay cheque.

Mr Romney's tax returns showed he paid a lower effective tax rate than wage-earners on his US$42.5 million (in combined 2010 and 2011) income from investment profits, dividends, and interest.

President Obama's nationally televised address before Congress that marked the start of his campaign highlighted a vision of government t…