Buffett Rule

Not to be confused with Buffett indicator.

Average tax rates for selected income groups under a fixed income distribution, 1960–2010.

The Buffett Rule is part of a tax plan which would require millionaires and billionaires to pay the same tax rate as middle-class families and working people.[1] It was proposed by President Barack Obama in 2011.[2] The tax plan proposed would apply a minimum tax rate of 30 percent on individuals making more than one million dollars a year.[3][4] According to a White House official, the new tax rate would directly affect 0.3 percent of taxpayers.[2]

  1. ^ United States. Congress (2012). Congrassional Record : Proceedings and Debates of the 112th Congress : Second Session. U.S. Government Printing Office. p. 5249.
  2. ^ a b Carrie Budoff Brown. "Obama's 'Buffett Rule' to call for higher tax rate for millionaires". Politico, September 17, 2011.
  3. ^ "The Buffett Rule: a Basic Principle of Tax Fairness" (PDF). White House. April 2012. Retrieved April 17, 2012 – via National Archives.
  4. ^ "S.2059 - Paying a Fair Share Act of 2012" (PDF).