Obama to propose new tax rate for millionaires
September 18th, 2011
08:50 AM ET
3 years ago

Obama to propose new tax rate for millionaires

Washington (CNN) – The White House will propose a new tax rate for people earning more than $1 million a year to ensure that they pay at least the same percentage of their earnings in taxes as middle-income Americans, a senior administration official told CNN on Sunday.

Called the Buffett Rule, the proposal will be part of a comprehensive deficit reduction plan President Barack Obama will unveil on Monday, according to the official, who spoke on condition of not being identified.

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Filed under: Debt • Deficit • President Obama • Taxes
soundoff (26 Responses)
  1. Canuck

    You know to the rest of the world many Americans come across as incredibly selfish, uncompassionate and just plain mean-sprited. I'm sure you probably knew that , but how many care?? It's sickening.

    September 18, 2011 11:36 am at 11:36 am |
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