The New York Times
Saturday, September 17, 2011 -- 6:00 PM EDT
-----
President Obama to Seek Higher Tax Rate on Millionaires
President Obama on Monday 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, administration officials said.
With a special joint Congressional committee starting work to reach a bipartisan budget deal, the proposal adds a populist feature to Mr. Obama's 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.
Mr. 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 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.
About This E-Mail
You received this message because you are signed up to receive breaking news
alerts from NYTimes.com.
To unsubscribe, change your e-mail address or to sign up for daily headlines
or other newsletters, go to:
http://www.nytimes.com/email
NYTimes.com
620 Eighth Ave.
New York, NY 10018
Copyright 2011 The New York Times Company
No comments:
Post a Comment