Obama budget targets millionaires, replaces sequester cuts

With the aid of Mark Felsenthal and Jeff Mason WASHINGTON (Reuters) – The White Home on Wednesday proposed a budget that sharply trims the U.S. deficit over three years by means of forcing millionaires to pay more in taxes and enacting spending cuts that change the "sequester" discount rates that went into location remaining month. President Barack Obama's fiscal 2014 funds blueprint ensures that those making $1 million a 12 months or extra would have to pay as a minimum 30 percent of their income, after items to charity, in taxes, officials said. …