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BREAKING: Obama Will Seek New Minimum Tax Rate for Millionaires

Penn Bullock September 17, 2011

But I worry this will stanch the golden trickle from the Job Creators: 

President Obama plans to call Monday for a new minimum tax rate on millionaires as part of a comprehensive rewrite of the U.S. tax code to force the wealthiest Americans to pay the same share of income in taxes as middle-class families.

In a twist on Obama’s long-standing assertion that the wealthy should do more to tame the soaring national debt, the proposal would target the top 0.3 percent of taxpayers, many of whom currently reap huge benefits from lower rates on capital gains and dividends, which form the bulk of their earnings.

Read the rest…

Topics: Uncategorized More Posts About: Job Creators, Julie Bindel, Millionaire, Minimum, Obama, Tax Rate, Top .03 percent, Trickle-down, Washington Post

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