Recent Event Highlights: 'Buffett Rule' touted by Obama sets minimum tax rate for top earners - Washington Post, Obama Promotes Buffett Rule In Florida, Beyond Buffett Rule, the Obama We've Been Waiting For - Esquire (blog), Obama pushes 'Buffett Rule' in Florida (2:09) - Washington Post, Obama Pushes 'Buffett Rule' in Florida, Obama promotes 'Buffett Rule,' mocks 'trickle down' economics - Los Angeles Times, and 44 more...
Created by dipity on Apr 10, 2012
Last updated: 04/17/12 at 06:06 PM
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Christian Science Monitor'Buffett Rule' touted by Obama sets minimum tax rate for top earnersWashington PostApril 10 (Bloomberg) -- President Barack Obama is promoting a “Buffett rule” setting a minimum tax rate for top earners to ensure they pay a higher percentage of their income than middle- class families. For the most part, they already do.Obama Pitches 'Buffett Rule' TaxWall Street JournalObama: Buffett rule about fairness, futurePoliticoObama stumps for 'Buffett Rule,' slams RepublicansABC NewsChristian Science Monitor -New York Times (blog)all 1,039 news articles »
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President Obama talked up the Buffett Rule during a speech Tuesday at the Florida Atlantic University.
Esquire (blog)Beyond Buffett Rule, the Obama We've Been Waiting ForEsquire (blog)By Charles P. Pierce It went on for about four or five lines of a genuine litany about what we do here in America. It had rhythm and cadence and fire. If the president waited far too long to arrive at the conclusion that the Republicans gave not a rag ...and more »
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Obama pushes 'Buffett Rule' in Florida (2:09)Washington PostApr. 10, 2012 - Campaigning in Florida Tuesday, President Barack Obama outlined his support for the so-called "Buffett rule." Obama says he wants to revamp the US tax law under which wealthy investors often pay taxes at a lower rate than middle-class ...and more »
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Campaigning in Florida Tuesday, President Barack Obama outlined his support for the so-called "Buffett rule." Obama says he wants to revamp the US tax law under which wealthy investors often pay taxes at a lower rate than middle-class wage-earners. (Apr
Obama promotes 'Buffett Rule,' mocks 'trickle down' economicsLos Angeles TimesHe plugged his proposed “Buffett Rule,” which would require that the wealthy pay at least 30% of their income taxes. Even though the idea is highly unlikely to pass before the election, it could still serve Obama's purpose by casting Democratic ...
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RTT NewsObama makes case for 'Buffett Rule,' higher taxes on wealthyThe HillPresident Obama intensified his populist pitch Tuesday, aggressively making the case that the wealthiest Americans should pay more in taxes and taking Republicans to task for opposing the “Buffett Rule.” Speaking just minutes after Rick Santorum ...Obama Makes Case For "Buffett Rule," Rallies SupportersRTT NewsPresident Obama at FAU: Tax the rich plan, tweet CongressMiamiHerald.comPresident Obama Touts Buffet Rule To FAU StudentsCBS LocalBizjournals.com -International Business Times -Post-Bulletinall 136 news articles »
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CBS NewsObama pushes for Buffett tax ruleCBS NewsBuffett Rule: Policy prescription, or political opportunity? White House Buffett Rule: A look at the numbers White House pushes Buffett rule on taxes The president outlined his support for the so-called Buffett rule at a university speech in Boca Raton ...Obama in Florida pressing for 'Buffett rule'San Francisco Chronicleall 28 news articles »
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Transcript by www.newsy.com BY BLAKE HANSON Tax day is a week-away — but President Obama is looking ahead to a different tax-related deadline. The Senate is set to vote next week on the "Buffett Rule." Here's Fox Business... "President Obama will be in Florida today where he'll call on Congress to approve the 'Buffett Rule' which would boost taxes on this country's millionaires." "Democrats are trying to make an issue of this, they want it on the record of course." The "Buffett Rule" is named after billionaire investor Warren Buffett, who reportedly pays a lower tax rate than his secretary. President Obama touted the plan during this year's State of the Union address. While it was big then — the New York Times says it's a bigger deal now... " ... the potential political appeal of the Buffett Rule is such that a reporter on the White House conference call asked administration officials why they did not just call it the 'Romney Rule.' Mr. Obama first proposed the rule last September, but he and his advisers ... have lately begun emphasizing it anew as they mobilize for the expected race against Mr. Romney." But Politico notes, the GOP has been quick to counter, writing... "Republicans have dismissed the proposal as a crass campaign stunt, because it won't raise much revenue to pay down government debt after three straight years of deficits exceeding $1 trillion." The congressional Joint Committee on Taxation reports the plan would create about $47 billion in revenues over ...
President Obama and fellow Democrats have picked their next fight with Mitt Romney and Republicans. What's the issue? Here's a hint: It comes just before your taxes are due. The president is in the battleground state of Florida this week, pushing the so-called "Buffett Rule," which would require the wealthiest Americans to pay at least 30 percent of their income in federal taxes. Democrats say the rule would bring increased equality to a tax code that unfairly favors the wealthy over the middle class—Republicans have called it class warfare. The rule has been part of the White House's agenda for months, but as battle lines are drawn ahead of November, congressional Democrats and the president hope to bring the issue of progressive tax reform front and center. A vote on the rule is scheduled for next week. Meanwhile, Obama's campaign is calling for Romney to release more of his tax returns—hoping to show the candidate's relatively low tax rate in comparison to the majority of Americans. Will it work? Depends ... does Romney get a write-off for his Cadillacs?
With the Senate set to vote one week from today on a Buffett Rule bill that would make sure millionaires and billionaires pay a minimum tax rate of 30 percent, we now present another video of former President Reagan supporting the principle behind the Buffett Rule. In today's video, President Reagan describes a letter he received from an executive who wanted to come to Washington and tell Congress why it's "wrong" that he was able to "take advantage of the present tax code" to pay a lower tax rate than his secretary.
Excerpt
...are somewhat related, but not nearly as much as people think. The White House released an eight-page document called “The Buffett Rule: A Basic Principle of Tax Fairness,” which tried to square that circle. It lists several reasons for the Buffett rule, including...
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Firedoglake
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The Buffett Rule and the meaning of fairnessCNNAtlanta (CNN) -- On Monday, I signed an online petition standing with President Obama, Warren Buffett and others to urge Congress to pass the Buffett Rule. It was a small gesture to stand for what is fair. The Buffett Rule, simply stated, requires the ...and more »
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The Buffett Rule: Your Straight Deal on TaxesHuffington Post (satire)Implementing the so-called "Buffett Rule" would restore some badly needed fairness to our tax system. It would also generate an estimated $47 billion in new revenue that could help reduce our federal deficit or repair decaying infrastructure.
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PoliticoDavid Axelrod: Tax system 'rigged'PoliticoThe tax system is “rigged” against the average American, David Axelrod said Tuesday as President Barack Obama was set to push for passage of the so-called Buffett rule to raise taxes on the wealthy. “We should not have a tax system where billionaires ...The Buffett Rule, two ways: Schumer sells it on 'fairness' grounds, Durbin ...Capital New YorkRomney Slammed For Swiss Bank AccountRTT NewsAxelrod: Tax policy 'rigged in favor of the very wealthy'The Hill (blog)The American Prospect -MyFox Memphis -Big Hollywoodall 46 news articles »
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Excerpt
...today's tax code. And the White House is now endorsing that push. Tax reform is likely to be a long slog, and implementing a Buffett Rule now would be a "simple and common sense" step toward reform, said Jason Furman, the principal deputy director of the National...
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CNN/Money
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Boston GlobeObama intensifies push for 'Buffett Rule'Boston GlobeA week before a Senate vote, the Obama campaign ramped up its advocacy Monday of the “Buffett Rule,'' which would impose a minimum effective tax rate of 30 percent on the wealthiest Americans. “We don't envy success in this country; we all strive to ...Obama Campaign Hits Mitt Romney on Buffett Rule, Tax ReturnsU.S. News & World Report (blog)President Obama's Campaign Ties Mitt Romney's Taxes To 'Buffett Rule'TPMObama puts taxes at center of campaign fightReutersmsnbc.com -ABC News (blog) -Washington Post (blog)all 5,912 news articles »
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Excerpt
...it’s going to take shared sacrifice and shared responsibility.” Obama will travel to Florida on Tuesday to push for the Buffett Rule, while Vice President Joe Biden will hit New Hampshire on a campaign swing Thursday to deliver a speech on “tax fairness.”...
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The Politico
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Reagan and Obama form an unlikely alliance to make sure bosses don't pay lower taxes than their secretaries. They are opposed by Mitt Romney and the GOP of 2012
Excerpt
...Their 2013 budget, for instance, included $1.5 trillion in specific tax increases, and trillions more in spending cuts. The Buffett Rule is one particularly high-polling policy among many. Meanwhile, it’s $47 billion more in loophole-closing than either Ryan...
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The Washington Post
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Excerpt
...indicated that replacing the income tax system with a consumption tax would boost economic growth. Even without the Buffett Rule, the expiration of the Bush tax cuts and new taxes under Obamacare would raise taxes on capital gains to 24% and dividends to 45%,...
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The American | American Enterprise Institute
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http://blog.american.com/2012/04/what-would-obamas-buffett-rule-tax-really-accomplish/
thefilmarchive.org April 4, 2012 The Path to Prosperity: Restoring America's Promise was the Republican Party's budget proposal for the year 2012. It competed with budget proposals outlined separately by President Barack Obama. and the Congressional Progressive Caucus. The Republican proposal was formalized and passed by the House of Representatives on Friday, April 15, 2011 largely along party lines. No Democrats voted in favor of the bill and only four Republicans voted against it, which created a 235 to 193 end vote total. The four Republican members of Congress who voted against the bill were Walter B. Jones, Jr., David McKinley, Ron Paul and Denny Rehberg. A month later, the bill died in the Senate by a vote of 57-40. The 2012 United States federal budget funds the operations of the federal government of United States for the fiscal year 2012, which runs October 2011--September 2012. The Path to Prosperity: A Blueprint for American Renewal was presented as the Republican budget proposal for 2013 in March 2012. The proposal focuses includes plans to reform Medicare, cap discretionary federal spending at $1.029 trillion and cut the highest individual tax rates. Representative Paul Ryan, Chairman of the House Budget Committee, played a prominent public role in drafting and promoting both The Path to Prosperity proposals, and they are often referred to as the Ryan budget, Ryan plan, Ryan proposal, etc. In March 2012, the House Budget Committee introduced a new version of ...
IAC Chairman Barry Diller was the inaugural guest on new "wowOwow Radio Show," joining hosts Lesley Stahl and Cynthia McFadden—two of wowOwow's co-founders—in studio for a rare radio interview. Diller sounds off on the best part of being a billionaire, America's "ridiculous...rotten" tax code (and if the very wealthy should pay more) and why he has "zero interest" in presidential politics and the GOP race. For more information and a free trial, go to www.siriusxm.com
The Clarkcast features audio from Obama's weekly radio address featuring his push for the "Buffett Rule." For those unaware of this issue, the left wants to increase the taxes on wealthy Americans so they can pay their "fair share." Not surprisingly, no one in the Obama Administration can define "fair share" or how much the wealthiest Americans should actually pay.
President Obama calls on Congress to pass the Buffett Rule, a principle that ensures that millionaires and billionaires do not pay less in taxes as a share of their income than middle class families pay -- as a matter of fairness.
thefilmarchive.org March 31, 2012 The Buffett Rule is a tax plan proposed by President Barack Obama in 2011 to alleviate income inequality in the United States between the top 1% of Americans and the remaining 99% of Americans, due to the disproportionate income growth in the 1% group as compared to the 99% group. The tax plan would apply to individuals earning more than $1 million per year; this comprised the top 450000 of Americans by income when the rule was proposed. The plan is named after American investor Warren Buffett, who publicly stated in early 2011 that he disagreed with the rich paying less in federal taxes, as a portion of income, than the middle class, and has voiced support for increased taxes on the wealthy. It would implement a higher minimum tax rate for taxpayers in the highest income bracket, to ensure that they do not pay a lower percentage of income in taxes than less-affluent Americans. In October 2011, Senate Democratic leader Harry Reid proposed a 5.6 percent surtax on millionaires to pay for new stimulus provisions, but the change did not go through. A White House statement released in January 2012 defined the rule as part of "measures to ensure everyone making over a million dollars a year pays a minimum effective tax rate of at least 30%... implemented in a way that is equitable, including not disadvantaging individuals who make large charitable contributions." The rule is not in the President's 2013 budget proposal and has been stressed by ...
Published on Mar 31, 2012 by whitehouse President Obama calls on Congress to pass the Buffett Rule, a principle that ensures that millionaires and billionaires do not pay less in taxes as a share of their income than middle class families pay -- as a matter of fairness. Category: News & Politics Tags: Buffett Rule taxes millionaires middle class Congress fairness Barack Obama Download this video Public Domain. Download High-quality MP4 Learn more
President Obama calls on Congress to pass the Buffett Rule, a principle that ensures that millionaires and billionaires do not pay less in taxes as a share of their income than middle class families pay -- as a matter of fairness.
Obama is Crazy, what can I say.
President Obama calls on Congress to pass the Buffett Rule, a principle that ensures that millionaires and billionaires do not pay less in taxes as a share of their income than middle class families pay -- as a matter of fairness.
Cumulative deficit = DebtMany of the debates surrounding the United States federal budget center around competing macroeconomic schools of thought. In general, Democrats favor the principles of Keynesian economics to encourage economic growth via a mixed economy of both private and public enterprise, a welfare state, and strong regulatory oversight. Conversely, Republicans generally support applying the principles of either laissez-faire or supply-side economics to grow the economy via small government, low taxes, limited regulation, and free enterprise. Debates have surrounded the appropriate size and role of the federal government since the founding of the country. These debates also deal with questions of morality, income equality and intergenerational equity. For example, Congress adding to the debt today may or may not enhance the quality of life for future generations, who must also bear the additional interest and taxation burden. Visit MeTee.com The place for publishing and printing t-shirts & always free shipping. Become a channel sponsor for 30 days for $1/day meseed.com Have any ad you want play in each video (any one video can go viral with tens-of-thousands of hits) - Subscribe for Breaking News. Like/Dislike, Comment, Favorite and share on Twitter, Facebook, and Google+ to get the word out on this video. Put this video on your channel with a more interesting title (never know if this channel will get taken down): www.keepvid.com Download video with keepvid ...
Seth Hanlon, the Center for American Progress's Director of Fiscal Reform, explains why the Buffett Rule is a fair and necessary element of tax reform.
Chris Christie discusses the Obama Administration's use of Warren Buffett as a means to raise taxes and redistribute wealth
Alan Simpson, the co-chair of President Obama's deficit commission, says raising taxes on the rich alone is not the answer. In part one of Chrystia Freeland's extensive interview with the former senator from Wyoming, Simpson says the country's current fiscal path makes the US the healthiest horse in the glue factory.
Under current tax law, loopholes allow some of the wealthiest Americans to pay a lower tax rate than hard-working middle class families in Rhode Island. Today, Sheldon introduced the "Paying a Fair Share Act" to correct this problem and reduce our deficit by billions of dollars.
Is there a darker side to the Berkshire Hathaway CEO? What does the Keystone Pipeline have to do with Warren Buffett? Is Buffett being honest about how much his secretary earns? "The Wall Street Journal" outlined a likely method by which Warren Buffett could avoid the so-called taxes under the Buffett Rule. So why is he calling for higher taxes on the rich? Could it be that he is just leading the Occupiers and Obamanistas a down a path by which he can still avoid taxes while reaping huge gains for his investors? Find out. See more at www.pjtv.com
Brad Badertscher, assistant professor of accountancy in the University of Notre Dame's Mendoza College of Business, discusses why some of the wealthiest people in the world are taxed at some of the lowest rates. He analyzes the "Buffett Rule" and focus on Mitt Romney's tax returns, as well as whether the tax code should be re-examined.
www.demos.org Demos' Heather McGhee explains why the Buffett Rule is needed to address tax loopholes for capital gains and carried interest -- the very loopholes exploited by private equity investors.
Why does the President and Warren Buffett portray Mr. Buffett's secretary as a victim because she pays taxes at a higher rate than Mr. Buffett? To further an agenda and to continue to split the country through class envy. Would it surprise you to know that Debbie Bosanek is very likely in the "1%" everyone talks about and many despise? Why would they compare two dissimilar tax rates? Capital Gains tax -vs- Ordinary or Earned Income tax. Look up the difference... there is a reason the two incomes are taxed differently!
Reason magazine Editor in Chief, Matt Welch appeared on Varney & Co. to discuss Warren Buffett's confusion between income tax and capital gains tax and why debt is not a revenue problem but a spending problem. Welch also reveals his favorite Beatles' songs. Air date: January 26, 2012. Approximately 2.34 minutes. Go to Reason.tv for HD, iPod and audio versions of this video and subscribe to Reason.tv's Youtube channel to receive automatic notification when new material goes live.
Stand with the President: my.barackobama.com But in return, we need to change our tax code so that people like me, and an awful lot of Members of Congress, pay our fair share of taxes. Tax reform should follow the Buffett rule: If you make more than $1 million a year, you should not pay less than 30 percent in taxes. And my Republican friend Tom Coburn is right: Washington should stop subsidizing millionaires. In fact, if you're earning a million dollars a year, you shouldn't get special tax subsidies or deductions. On the other hand, if you make under $250000 a year, like 98 percent of American families, your taxes shouldn't go up. You're the ones struggling with rising costs and stagnant wages. You're the ones who need relief. Now, you can call this class warfare all you want. But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense. We don't begrudge financial success in this country. We admire it. When Americans talk about folks like me paying my fair share of taxes, it's not because they envy the rich. It's because they understand that when I get tax breaks I don't need and the country can't afford, it either adds to the deficit, or somebody else has to make up the difference -- like a senior on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right. Americans know it's not right. They know that this generation's success is only possible because ...
State of the Union
Progressives are hoping that if Republicans won't listen to President Obama on the Buffett Rule, then maybe they'll listen to President Reagan. The Center for American Progress unearthed video of Reagan making the case in 1985 for closing tax loopholes on the rich in strikingly similar terms to Obama, even leading an audience to cheers over the idea to tax millionaires at the same rate as bus drivers. Obama is currently promoting a plan to reform the tax code in order to prevent a billionaire like Warren Buffett from paying less than their secretary. "In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that's crazy," Reagan says in the video. "Do you think the millionaire ought to pay more in taxes than the bus driver or less?" "We continue to see support for the Buffett Rule growing in unexpected quarters," Jennifer Palmieri, president of the Center for American Progress Action Fund told reporters in a conference call on the footage. "Now we have President Reagan speaking to us from 30 years ago to argue for the same type of equity." Democrats aren't the only ones who've tried to use former presidents' decades-old words in today's tax fights. The CAP video bears a resemblance to a memorable ad by Sen. Scott Brown (R-MA) in which he used footage of President Kennedy calling for lower taxes to sell himself to Democratic voters.
Business Wire CEO Cathy Baron Tamraz interviews Warren Buffett. (Video: Business Wire) www.businesswire.com
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At the FORTUNE Most Powerful Women Summit in Laguna Niguel, Ca., in early October, Warren Buffett talked with FORTUNE senior editor at large Carol Loomis about the Buffett Rule -- and explained the thinking behind it.
At FORTUNE's Most Powerful Women Summit, Chelsea Handler discussed her hopes to create a movement of support for the Buffet Rule. For updates on the FORTUNE Most Powerful Women community, visit: facebook.com
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