English subtitles for clip: File:2012-12-01 President Obama's Weekly Address.ogv

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The President:
Hi, everybody.

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I'm here on the factory floor
of a business in Hatfield,

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Pennsylvania, where folks are
working around the clock making

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toys to keep up with
the Christmas rush.

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And I came here because,
back in Washington,

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the clock is ticking on some
important decisions that will

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have a real impact
on our businesses --

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and on families like yours.

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The most pressing decision
has to do with your taxes.

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See, at the end of the year,
middle-class tax cuts are set

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to expire.

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And there are two
things that can happen.

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First, if Congress does nothing,
every family will see their

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income taxes automatically go up
at the beginning of next year.

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A typical middle class family of
four will see their income taxes

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rise by $2,200.

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We can't let that happen.

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Our families can't afford it,
and neither can our economy.

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The second option is better.

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Right now, Congress can pass
a law that would prevent a tax

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hike on the first $250,000
of everybody's income.

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Everybody.

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That means that 98% of Americans
and 97% of small businesses

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wouldn't see their income
taxes go up at all.

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And even the wealthiest
Americans would get a tax cut on

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the first $250,000
of their incomes.

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Congress can do that right now.

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They can give families like
yours a sense of security going

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into the New Year.

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They can give companies like
this one some certainty about

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what to expect down the road.

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And with the issue behind us,
we'll have more time to work out

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a plan to bring down our
deficits in a balanced way --

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including by asking the
wealthiest Americans to pay a

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little more, so we can still
invest in the things that make

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our nation strong, like
education and research.

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So let's begin by doing
what we all agree on.

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Both parties say we should
keep middle-class taxes low.

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The Senate has already passed a
bill to keep income taxes from

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going up on
middle-class families.

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Democrats in the House are
ready to do the same thing.

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And if we can just get a few
House Republicans on board,

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I'll sign this bill as soon
as Congress sends it my way.

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But it's unacceptable for some
Republicans in Congress to hold

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middle class tax cuts hostage
simply because they refuse to

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let tax rates go up on
the wealthiest Americans.

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And if you agree with me, then
I could sure use your help.

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Let your congressman know
what $2,000 means to you.

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Give them a call.

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Write them an email.

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Or tweet them using
the hashtag "My2K."

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That's My2K.

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You and your family have a
lot riding on the outcome of

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this debate.

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We all do.

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And as citizens, we all have a
say in the country we want to

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build -- not just on
election day, but every day.

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So make your voice heard.

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I promise, it
makes a difference.

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Thanks, and have
a great weekend.