Buffett Millionaires Tax To Raise $47 Billion: Report

Millionaires Tax

WASHINGTON (Reuters) - A proposed 30 percent minimum tax on millionaires backed by President Barack Obama - dubbed the Buffett tax after investor Warren Buffett who supports it - would raise about $47 billion over a decade, according to a congressional report.

Sections:  news   politics   
RELATED ARTICLES
  • Professor explains wild airline rant: In-flight cigarette was ‘revolutionary’ act of ‘civil disobedience’
    A Penn State professor was arrested over the weekend in a bizarre videotaped incident that went viral. Karen Halnon, who teaches sociology at the university’s Abington campus, was flying from Nicaragua to Miami when she lit up a cigarette and ranted about Venezuela and President Barack Obama. More
  • Republicans to back Obama's student loan plan
    House Republicans are willing to give President Barack Obama a rare win, the chairman of the Education and Workforce Committee said Thursday in outlining a deal that would let college students avoid a costly hike on their student loans. More
  • Obama to open middle-class jobs, opportunity tour
    Aiming to show he's still focused on creating jobs, President Barack Obama is beginning a series of quick trips around the country to resurrect ideas from his State of the Union address that became overshadowed by the intense debates over gun control, immigration and automatic spending cuts. More
  • GOP boycotts health care advisory board
    House and Senate Republican leaders told President Barack Obama Thursday that they will refuse to nominate candidates to serve on an advisory board that is to play a role in holding down Medicare costs under the new health care act. More
  • Original ricin suspect was held despite evidence pointing to another man
    After keeping Elvis impersonator James Kevin Curtis in jail for a week, interrogating him while he was chained to a chair and turning his house upside down, federal authorities had no confession or physical evidence tying him to the ricin-laced letters sent to President Obama and other public officials. More
BING NEWS:
  • Bipartisan Tax Reform: A Modest Proposal – Analysis
    And judicious tax reform will help. But to rely on growth to solve all our problems would involve a bet appropriate to the casino, not to the halls in which policy is formulated. So, raise taxes ... least part of our $15.5 billion annual auto trade ...
    07/27/2017 - 3:51 pm | View Link
  • Would the ALP's 'Buffett tax' put an end to tax-rorting millionaires?
    Some 55 millionaires paid no tax at ... has argued for a more aggressive Buffett tax, applying a flat 35% rate to income earners over $300,000, and has modelling that shows it would raise $2.5 billion a year. Such a policy would be very tough to get ...
    07/27/2015 - 4:11 pm | View Link
  • The Millionaires’ Tax (Hey Mr. Buffett, How Much Taxes will It Really Raise?)
    That’s $366 billion (or 44 percent ... Room 622D Hyattsville, MD 20782 A tax increase on millionaires will raise less money than leaving rates the same. Millionaires will work fewer hours, choose less risky investments with lower returns, pass their ...
    11/27/2012 - 8:53 pm | View Link
  • Obama's Buffett Rule: FAQ
    NEW YORK (CNNMoney) -- President Obama on Tuesday continued to beat the drum for the Buffett Rule, his campaign-ready tax proposal aimed at millionaires and billionaires ... "Paying a Fair Share Act" would raise $47 billion over 10 years, or an average ...
    04/9/2012 - 11:24 pm | View Link
  • The Real Reason The Buffett Rule Would Raise Only $47 Billion
    Catchy, but misleading. The grabber head was attached to a story reporting an estimate by Congress’ Joint Committee on Taxation that a Senate bill proposing a 30% minimum tax for millionaires would raise only $47 billion over a decade. Now I would never ...
    03/22/2012 - 9:32 pm | View Link
  • More
BING SEARCH:
  • Buffett Rule
    The Buffett Rule is part of a tax plan proposed by ... a letter in March 2012 estimating that the Buffett Rule would raise $46.7 billion over the ...
    07/24/2017 - 12:36 pm | View Website
  • Reuters: Buffett millionaires' tax would raise $31 billion ...
    Reuters: Buffett millionaires' tax would ... The Buffett tax would raise $30.7 billion from 2012 through 2022 if imposed on taxpayers earning more than $1 million, ...
    07/12/2017 - 10:27 am | View Website
  • Obama's 10 new taxes
    BUFFETT TAX: Reprising ... than capital gains — the White House wants millionaires to pay a minimum tax rate of ... tax would raise $268 billion.
    02/2/2015 - 6:33 am | View Website
  • Taxing Millionaires: Obama's Buffett Rule
    Taxing Millionaires: Obama's Buffett ... Tax, or FST, that would collect $53 billion over ten years (and $99 billion if Congress doesn’t raise taxes ...
    04/17/2013 - 2:04 pm | View Website
  • Buffett millionaires tax to raise $47 billion: report ...
    WASHINGTON , Wed Mar 21, 2012 – A proposed 30 percent minimum tax on millionaires backed by President Barack Obama – dubbed the Buffett tax after investor Warren ...
    03/21/2012 - 2:11 pm | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Politics News