What is the main idea of Mr. Obama’s plan for cutting America’s huge budget deficit?

(7)President Obama has outlined his plan for cutting America’s huge budget deficit, saying that corporations and the wealthiest citizens must pay higher taxes. Speaking at the White House, Mr. Obama said it was wrong that someone earning only $50, 000 a year should pay the same rate of tax as a person who earned $50 million. He said the pain of reducing the deficit had to be evenly spread.
    Republican opponents have described Mr. Obama’s plan as "class warfare" and say they’ll oppose any tax increases.