Obama says will "refuse" to renew tax cuts for rich

WASHINGTON | Wed Apr 13, 2011 1:59pm EDT

WASHINGTON (Reuters) - President Barack Obama said on Wednesday that tackling the U.S. budget deficit would require broad sacrifice and said that he would refuse to renew Bush-era tax breaks for wealthier Americans.
"We cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. And I refuse to renew them again," Obama said in remarks prepared for delivery.