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:
  • Malloy And GOP Say Hedge Fund Tax Could Drive Wealthy Out
    Malloy and Republicans strongly oppose a controversial bill calling for a 19 percent tax on hedge funds, saying that the levy could drive wealthy millionaires ... raise as much as $535 million as the state tries to close a projected defict of $1.7 billion ...
    04/12/2017 - 5:29 am | View Link
  • Two HV Lawmakers Weigh In On NYS Budget
    The budget, which extends the millionaires tax and implements previously approved middle-class tax cuts, also contains legislation to return the New York Racing Association to private control. And lawmakers reached a deal to gradually raise the age of ...
    04/10/2017 - 11:20 am | 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
  • Taxing Millionaires: Obama’s Buffett Rule
    But his budget includes a concrete plan, dubbed the Fair Share Tax, or FST, that would collect $53 billion over ten years (and $99 billion if Congress doesn’t raise taxes on the rich with the 28 percent cap). Obama’s goal is to keep the rich from ...
    04/10/2013 - 1:00 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
  • More
BING SEARCH:
  • Wealth Daily
    Warren Buffett once told investors at an annual shareholder meeting, "...it's a huge structural advantage not to have a lot of money. I think I could make you 50% a ...
    04/17/2017 - 4:34 pm | View Website
  • TaxVox | Tax Policy Center
    We spent the better part of a beautiful, sunny weekend working on our taxes. We were among friends, if social media offers any indication: So many Facebook posts, so ...
    04/17/2017 - 12:52 pm | View Website
  • Forbes Video
    Forbes is a leading source for reliable business news and financial information. Watch news, politics, economics, business & finance on Forbes.com
    04/17/2017 - 7:23 am | View Website
  • Business News, Personal Finance and Money News
    Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News
    04/16/2017 - 11:30 pm | View Website
  • 107 Profound Warren Buffett Quotes: Learn To Build Wealth ...
    This article contains 107 Warren Buffett quotes to teach you to build wealth and become a better investor. Warren Buffett is arguably the greatest investor of all time.
    04/16/2017 - 6:01 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