Buffett Rule

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We Need a Minimum Tax on Über Rich

Warren Buffett: Taxes won't deter wealthy investors

(Newser) - Warren Buffett is taking another stand in the tax debate. In a New York Times op-ed this morning, the Berkshire Hathaway boss calls on Congress to establish a minimum tax on the richest Americans, "right now." His proposal: "30% of taxable income between $1 million and $10... More »

Jon Lovitz Doubles Down on Obama-Bashing

'He's creating a false class warfare,' says comedian

(Newser) - Last night on Piers Morgan’s show, Jon Lovitz made it clear he has no intention of backing down from his recent rant against President Obama . “Yes, I did mean what I said,” said Lovitz, referring to his comments that Obama’s claim that “the rich don'... More »

Will Smith: Sure, Tax Me More

Actor supports higher taxes for the rich

(Newser) - President Obama has another high-profile backer of his call for higher taxes on the wealthy: Will Smith. "I'm very supportive of that idea," Smith told the AP while promoting Men in Black III, for which he earned an estimated $20 million. "America has been fantastic to... More »

Stephen King: Raise My F***ing Taxes Already

The rich aren't going to pay up just to be nice

(Newser) - Stephen King is following Warren Buffett's lead with an op-ed begging to be taxed more—though King drops in a few more F-bombs in his very salty appeal. In "Tax Me, for F***'s Sake," the wealthy author offers his views on his fellow one-percenters: "The... More »

GOP Senators Derail 'Buffett Rule'

Democrats timed symbolic vote for day before taxes are due

(Newser) - Senate Republicans derailed a "Buffett rule" bill today, using the day before Americans' taxes are due to defy President Barack Obama on one of his signature election-year issues. By a near party-line 51-45 tally, senators voted to keep the bill alive but fell nine votes short of the 60... More »

Buffett Rule 'Scares Conservatives'

Chris Hayes hosts discussion on President Obama's tax plan

(Newser) - Chris Hayes hosted a feisty roundtable discussion today on MSNBC about the Buffet Rule, asking whether President Obama's attempt to tax the rich at 30% is just a "gimmick"—or, as Mitt Romney has warned, a needless "source of division."
  • David Cay Johnson, Reuters columnist:
... More »

Guess Who Else's Secretary Pays Higher Tax Rate?

White House says Anita Decker Breckinridge pays higher rate than Obama, pushes Buffett Rule

(Newser) - Turns out Warren Buffett's secretary isn't the only one paying a higher tax rate than her rich boss: Anita Decker Breckenridge, the president's own secretary, pays a "slightly higher" tax rate on her $95,000 salary than the 20% Obama paid on his $790,000 , reports... More »

Obama on Buffett Rule: It's Really the Reagan Rule

President gives speech flanked by millionaires and their secretaries

(Newser) - So much for the Romney Rule . President Obama has settled on another way to rebrand the Buffett Rule, which would impose a 30% minimum tax on income above $1 million, Roll Call reports. "I’m not the first president to call for this idea that everybody’s got to... More »

Obama Looks to Bludgeon Romney With Buffett Rule

Or is that the 'Romney Rule'?

(Newser) - On a recent White House conference call on the Buffett Rule , a reporter offered President Obama's staff an idea: Why not call it the "Romney Rule?" So far they haven't taken that suggestion, but they are giddy at the prospect of campaigning for the rule, which would... More »

Report: Rich Would Dodge Buffett Rule

Tax hike for richest would raise just $47B over 11 years

(Newser) - The proposed "Buffett Rule" tax on America's highest earners would barely make a dent in the federal deficit, according to a report from congressional analysts. The plan to impose a 30% minimum tax on people making more than $1 million a year would raise just $47 billion over... More »

Christie to Buffett: Pay Up and Shut Up

New Jersey governor is 'sick of hearing about' Buffett Rule

(Newser) - Chris Christie has just about had it with that pesky Oracle of Omaha and all his talk about millionaires paying more taxes. The New Jersey governor cut off Piers Morgan's Warren Buffett question at the pass in an interview last night on CNN , telling him, "He should just... More »

Obama Unveils $3.8T Budget, Targets Rich

Budget would institute 'Buffett Rule,' boost infrastructure

(Newser) - President Obama officially unveiled his $3.8 trillion budget today, and as expected it draws a 2012 battle line, calling for higher taxes on the wealthy combined with spending measures intended to bolster the economy, the AP reports. "We built this budget around the idea that our country has... More »

Obama's Buffett Rule: 30% Minimum Tax for Millionaires

Warren Buffett secretary Debbie Bosanek is there as a guest

(Newser) - President Obama made his expected pitch for the Buffett rule tonight, with Warren Buffett secretary Debbie Bosanek attending his State of the Union speech to hear it in person. After noting Buffett's complaint that she pays a higher tax rate than her billionaire boss, Obama fleshed out the details,... More »

Special Guest at SOTU: Warren Buffett's Secretary

Debbie Bosanek will sit in Michelle Obama's box

(Newser) - At tonight's State of the Union address, Warren Buffett's secretary will have a seat in Michelle Obama's box, the Washington Post reports. Debbie Bosanek is the inspiration for President Obama's "Buffett rule," a call for the rich to pay a higher tax rate; Buffett... More »

Buffett Dares GOP to Donate More Taxes

Says he'll match them, and 'even go 3 for 1 for McConnell'

(Newser) - Warren Buffett's ready to donate money to pay down the national debt—provided Republicans lawmakers do so first. When Buffett called for higher taxes on the rich last year, Mitch McConnell and many other Republicans told him to " send in a check ," and John Thune even introduced... More »

Billionaires' Tax Tricks Hide Huge Gains

Millions go unreported thanks to 'unrealized appreciation'

(Newser) - If President Obama wants a "Buffett Rule" to keep billionaires paying their fair share of taxes, he’ll have to look at the "800-pound gorilla" in the room, tax experts say. That gorilla, explains one expert, is "unrealized appreciation"—cash that America’s wealthiest take in... More »

Buffett: I Made $63M Last Year, Should Pay More

He paid about $7M in federal income tax

(Newser) - Warren Buffett got back in the public fray over taxes today with a letter to GOP congressman Tim Huelskamp of Kansas. Highlights:
  • Buffett wrote that his adjusted gross income last year was $62.8 million and his taxable income was $39.8 million. He paid $6.9 million in federal
... More »

Buffett to Murdoch: You Show Me Yours, I'll Show You Mine

Tax returns, he means

(Newser) - Warren Buffett sounds pretty content to be at the center of the nation's tax debate: He said today that he'd be happy to release his tax returns as critics have demanded—provided fellow billionaire Rupert Murdoch did the same, reports Reuters . Why Murdoch? His News Corp owns the... More »

Buffett Terrifies Conservatives

He's the perfect messenger to expose tax unfairness, EJ Dionne writes

(Newser) - Conservatives are tripping over each other in their zeal to attack Warren Buffett, and it’s not hard to see why, writes EJ Dionne in the Washington Post . “Buffett’s sin is that he spoke a truth that conservatives want to keep covered up,” namely that there’s... More »

Paul Ryan: Obama Waging 'Class Warfare'

'Buffett Rule' finds no fan in Budget Committee chair

(Newser) - The so-called Buffett Rule, President Obama's pending plan to raise taxes on the rich named for Warren Buffett , found an outspoken critic in Paul Ryan today, Politico reports. "Class warfare might make for good politics, but it makes for bad economics," the House Budget Committee chairman tells... More »

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