CBS MoneyWatch: Why the 'Buffett Rule' Lives

By Alain Sherter
CBS News MoneyWatch, April 17, 2012

(MoneyWatch) The so-called Buffett Rule is dead; long live the Buffett Rule. For while Senate lawmakers late Monday struck down the White House-backed proposal to establish a minimum 30 percent tax on millionaires, the issue carries on as a symbolic political front in this year's national election.
By contrast, most Americans back the idea of raising taxes on the wealthiest Americans, with a recent CNN/ORC poll showing that 72 percent of respondents support the Buffett Rule. That includes many small businesses. Some 58 percent of small business owners say that households with incomes of more than $1 million a year pay "less than their fair share" in taxes, according to a recent survey commissioned by a coalition of small business groups. ...

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