Obama Seeks Tax Cut Extension

U.S. President Barack Obama is calling on Congress to extend tax cuts for another year for the 98 percent of Americans who make less than $250,000 per year. The president said in his weekly address Saturday a tax increase, scheduled to go into effect on January 1, would be a "huge financial hit" for middle-class families. President Obama said under his plan, the other 2 percent of Americans would have to pay "a little more in taxes" on anything they make over $250,000. ...