Obama To Sock Rich With A "Buffett Tax" On Incomes Of $1 Million Or More Well, this won't make President Obama's critics happy. On Monday, the President will propose a new "Buffett Tax" on those making $1 million a year or more, Jackie Calmes of the New York Times reports. The tax will be a sort of alternative-minimum tax that ensures that the nation's highest earners, like Warren Buffett, pay a similar percentage of their incomes in tax as middle-class people do. Read more: http://articles.businessinsider.com...alternative-minimum-tax-incomes#ixzz1YFodWuCC That should help create some jobs...not!
How about this for a Buffet tax...anyone with over $1 billion dollars in net worth immediately has to pay 50% of his assets to the government. There! That will shut him up.
I think we should tax the government if it has revenues over $1M. For every dollar the U.S. Government takes in over $1M, 50% has to be paid back to the taxpayers. Let's put the shoe on the other foot for a change!
http://www.bbc.co.uk/news/world-us-canada-149627 Call me a cynic- but I think this guy is adopting this policy to try to get re-elected
Or, how about these uber-rich be prevented from moving their assets into charitable trusts to escape the death tax, Warren?