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President Obama: Tax the Rich!

Wednesday, 29 Jun 2011 | 7:00 PM ET

"If everybody else is willing to take on their sacred cows and do tough things in order to achieve the goal of real deficit reduction, then I think it would be hard for the Republicans to stand there and say that the tax breaks for corporate jets is sufficiently important that we're not willing to come to the table and get a deal done," said President Obama. CNBC's Eamon Javers reports.