Barack Obama: Wealthy must pay more tax

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US President Barack Obama has reiterated his call for high earners in the US to pay more in taxes, in his first news conference since his re-election.

He called for quick legislation to rule out tax rises on the first $250,000 (£158,000) of income, but refused to extend cuts for the wealthiest 2%.

Mr Obama said it should come as ''no surprise'' that his approach was that ''the wealthiest Americans pay a little bit more''.

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