Obama expected to promote ‘Buffett Rule’ at FAU next weekby George Bennett | April 6th, 2012
While the FAU speech is billed as an official address on economic themes, the anticipated “Buffett Rule” discussion will meld with Democratic campaign themes during a South Florida swing in which Obama is also scheduled to headline three big-dollar political fundraising events.Named for billionaire investor Warren Buffett, the Buffett Rule is a proposal to guarantee that people with incomes above $1 million pay an effective tax rate of at least 30 percent. Many wealthy filers structure their income to take advantage of lower tax rates on investment earnings.
The Democrat-controlled Senate is expected to vote on Buffett Rule legislation later this month.
“The President believes in standing up for the middle class and making our tax system fairer, which is why he proposed the Buffett Rule, a simple principle for fairness that ensures that millionaires pay at least the same effective tax rate as middle class families pay,” White House spokeswoman Joanna Rosholm said. “Making sure that that everyone plays by the same set of rules is key to ensuring the economic security of the middle class, and the President will continue to make this case next week.”
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