[net-gold] MILLIONAIRES : BILLIONAIRES : TAXES AND TAXATION : UNITED STATES: GOVERNMENT: Obama to Seek Minimum Tax Rate for Millionaires
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
- To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, Educator Gold <Educator-Gold@xxxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, Net-Gold <net-gold@xxxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, Digital Divide Diversity MLS <mls-digitaldivide@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports Tourism <healthrecsport@xxxxxxxxxxxxxxxx>, Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
- Date: Sat, 17 Sep 2011 21:03:40 -0400 (EDT)
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MILLIONAIRES :
BILLIONAIRES :
TAXES AND TAXATION :
UNITED STATES: GOVERNMENT:
Obama to Seek Minimum Tax Rate for Millionaires
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Obama to Seek Minimum Tax Rate for Millionaires
GOP is expected to oppose plan named for Buffett
By Jackie Calmes
New York Times
September 18, 2011
http://www.boston.com/news/nation/washington/articles/
2011/09/18/obama_to_seek_minimum_tax_rate_for_millionaires/
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A shorter URL for the above link:
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http://tinyurl.com/3rklrqv
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WASHINGTON - President Obama tomorrow will call for a new minimum tax rate
for individuals making more than $1 million a year to ensure that they pay
at least the same percentage of their earnings as middle-income taxpayers,
according to administration officials.
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With a special joint congressional committee just starting work to reach a
bipartisan budget deal by late November, the proposal adds a new and
populist feature to Obamas effort to raise the political pressure on
Republicans to agree to higher revenues from the wealthy in return for
Democrats support of future savings from Medicare and Medicaid.
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Obama, in a bit of political salesmanship, will call his proposal the
Buffett Rule, in a reference to Warren E. Buffett, the billionaire
investor who has complained repeatedly that the richest Americans
generally pay a smaller share of their income in federal taxes than do
middle-income workers, because investment gains are taxed at a lower rate
than wages.
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Obama will not specify a rate or other details, and it is unclear how much
revenue his plan would raise. But his idea of a millionaires minimum tax
will be prominent in the broad plan for long-term deficit reduction that
he will outline at the White House tomorrow.
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Obamas proposal is certain to draw opposition from Republicans, who have
staunchly opposed raising taxes on the affluent because, they say, it
would discourage investment. It could also invite scrutiny from some
economists who have disputed Buffetts assertion that the megarich pay a
lower tax rate overall, because many in that group actually make more from
wages than from investments.
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In a speech Thursday, John A. Boehner, the House speaker and an Ohio
Republican, agreed with Obama that the deficit-reduction committee can
tackle tax reform, and it should, to get rid of many tax breaks and allow
for lower marginal rates.
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://daviddillard.businesscard2.com
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