A bill designed to enact President Barack Obama’s plan for a “Buffett rule” tax on the wealthy would rake in just $31 billion over the next 11 years, according to an estimate by Congress’ official tax analysts obtained by The Associated Press. That figure would be a drop in the bucket of the over $7 trillion in federal budget deficits projected during that period. It is also miniscule compared to the many hundreds of billions it would cost to repeal the alternative minimum tax, which Obama’s budget last month said he would replace with the Buffett rule tax.
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Report: Just $31b From Buffett Rule Tax on Rich - ABC News
I eagerly await the administration’s sensible and thoughtful revision to their plan, which is likely to come never.
(via jeffmiller)
I don’t understand why so many people are downright eager to politicize economics and math to turn it into class warfare. If it isn’t working, stop doing it!
(via jeffmiller)
