President Barack Obama is preparing to give a major address Wednesday to outline his long-term plan for deficit reduction. He is expected to propose cuts to Medicare and Medicaid and changes to Social Security. Senior White House adviser David Plouffe appeared on Meet the Press Sunday and said Obama will also call for tax increases on the wealthy.

David Plouffe, a senior White House adviser: “[The President] has said that he believes taxes on the higher income—people over $250,000—should eventually go up.”

David Gregory: “Can you tackle the deficit without raising taxes on even the middle class?”

Plouffe: “I think the President’s goal — and he’s been clear about this — is to protect the middle class as we move forward here. So, people like him, as he’ll say, who have been very fortunate in life, have the ability to pay a little bit more.”