Obama targets millionaires

US PRESIDENT Barack Obama will today call for a higher minimum tax rate on millionaires to ensure they pay the same rate on their earnings as middle-income taxpayers, according to a White House official.

The plan comes as Obama engages in a months-long, countrywide trek to back his $447 billion (€323.98bn) jobs bill to reduce 9.1% unemploy-ment and restore trust in his economic leadership.

The tax raise is unlikely to pass Congress, as Republicans have rejected Obama’s plans to raise taxes and limit deductions for the highest earners.