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Obama on 5.6% Surtax on Millionaires

Thursday, 6 Oct 2011 | 11:14 AM ET

President Obama discusses the change in how to pay for the jobs bill with a 5.6% surtax on millionaires. "We've always said we'd be open to a variety of ways to pay for it," says President Obama. "Not only do we have to do the jobs bill, we also have to do more to reduce the debt and the deficit."