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Does 'Buffett rule' math add up?

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    Obama's effort to raise taxes on the wealthy

  • Duration 2:31
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President Obama spent a second day touting an election year tax hike for the rich that he says he's not redistribution of wealth.

Senior White House foreign affairs correspondent Wendell Goler reports on the president's tactic to -- a sharp contrast with his likely November opponent.

Schools -- -- by millionaires who support the idea President Obama made another push for requiring wealthy investors to pay the same tax rate is the upper middle class -- survey found that.

Two thirds of -- support this idea.

Sort of nearly half of all Republicans across America.

Most Republican lawmakers however do not the so called Buffett rule has no chance in the house and senate Republican leader Mitch McConnell said in a written statement quote.

We should be focused on jobs and energy legislation that can pass not tax actual votes designed to fail.

Republicans think the president's push for a senate vote next week is intended to make them look bad -- mr.

Obama raised eyebrows himself when he said it's more than an issue of fairness.

It is also about growth.

There's also about being able to make the investments we need to succeed.

And it's about.

We as a country being -- to pay for.

Those investments and closing our deficits.

In fact the Buffett rule would only raise about four billion dollars a year over the next decade which wouldn't close -- trillion dollar deficits by much.

Mitt Romney says quote.

President Obama's math doesn't add up and -- says the Buffett rule is quote.

Moral political statement than a deficit reduction tool he also says it's a diversion from the president's record on the economy.

He wants to divert from that and see if we can't find some.

Someone to attack some scapegoat the scapegoat.

-- the likely Republican presidential nominee is himself one of the political targets of the Buffett rule.

Romney's was 122000.

Millionaire families that paid -- less than 15% tax rate because the income -- from investments -- Mr.

Obama says the republicans' resistance of the Buffett rule is another sign the party has moved to the right.

He's a former President Reagan called -- full crazy this tax loopholes allowed multimillionaires.

To pay a lower rate that bus drivers.

And the current president had a suggestion.

If it'll help convince folks.

In congress to make the right choice we could call of the regularly and so the -- -- Business groups say the Buffett rule is unfair because -- double taxes money paid to executives -- chosen to take a percentage of company profits -- investment returns.

In lieu of salaries tax the corporate -- and then that an individual rate.

The White House believes however that's a tough sell to the American public.

Brett undergo a -- -- north lawn Wendell thank you.

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