Page 36 - Buffet Rule News Today : Breaking News, Live Updates & Top Stories | Vimarsana

On the campaign trail but the good news for you is this thing has absolutely no chance of passing the senate. the buffet rule is not going to pass because number one, it doesn't make any sense and number two, we had doug mcelway live from the white house the other day and he pointed out accurately you're triple taxed. you make some money and you're taxed at 35%. ok, you invest the money and make money on the interest and what not, then you're taxed again and then when you die, you're taxed a third time. >> the buffet rule that the obama administration proposes would bring in a maximum of $4.7 ...

Mitt romney. they are pushing for the buffet rule. which is named for millionaire warren buffet. it turns out based on the president's tax return he probably pays a lower rate than a lot of secretaries. he paid $162,000 in federal taxes. that's an effective tax rate of 20.5%. some independent analysts say that could complicate the democratic argument against mitt romney paying 14%. >> relative to romney the president isn't making all that much. but relative to the majority of mayor cans the obamas would be considered wealthy and they have to show they are in touch with the average american.

Rule, the buffet rule would, in fact, i've got this the wrong way around. take two, ok. he's inaccurate and misleading because romney's plan for the economy would actually bring in more money to the treasury from the wealthy than does the buffet rule. romney would lower tax rates, cut out a ton of loopholes and bring in more money to the treasury. so to dub it the romney rule is totally misleading. you know, i got to go on with this because look, it's also very irresponsible. right now, we've got the economy heading south. the economy is weakening as we speak. it's not received much publicity ...

Returns today. turns out he pays a lower rate than his secretary. just like the billionaire warren buffet. the president has been pushing for the buffet rule to change that. republican rules are fighting it calling it a job killing tax hike. the white house says the president made almost $800,000 last year and paid a rate of about 20%. officials say his secretary made $95,000 and paid a slightly higher tax rate. they're not telling us exactly how much. in 2010, mitt romney earned more than $20 million. and paid a rate of just less than 14%. his tax returns have not been completed, he reports, ...

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