An Analysis of the "Buffett Rule"

Author / Creator

Library of Congress. Government Division

Available as

Online

Summary

Analyzes Obama Administration observation of the "Buffett rule" as a principle of tax reform. Provides overview of the Buffett rule, which states that no household making over $1 million annually s...

Analyzes Obama Administration observation of the "Buffett rule" as a principle of tax reform. Provides overview of the Buffett rule, which states that no household making over $1 million annually should pay a smaller share of its income in taxes than middle class families pay. Examines extent to which the Buffett rule applies to high-earning taxpayers in the U.S., using a measure of income that captures the ability to pay taxes and incorporates effect of corporate income tax in addition to individual income tax and the payroll tax. Addresses issues surrounding the rule as it relates to small business, job creation, saving, and investment. Includes tables and graphs.

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