Obama Pressing For ‘Buffett Rule’ To Tax Millionaires

Obama Pressing For ‘Buffett Rule’ To Tax Millionaires
Market News

President Obama headed to Florida to make the case for the “Buffett Rule,” a policy he introduced in this year’s State of the Union address. The rule would institute a minimum federal income tax of 30 percent for Americans who make over $1 million a year.

Previewing Obama’s remarks Tuesday, the administration argued that the rule is designed to prevent the widespread tax evasion that allows top earners to avoid much of their social duties.

It takes its name from billionaire investor Warren Buffett, who has publicly called for wealthy Americans to be taxed at higher rates than their mid-level employees.

The Daily Beast

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