In spite of a majority of Senators voting to pass the Buffett Rule creating a minimum tax rate for those making over a million a year, the bill failed. Along an almost straight party line vote, the Buffett rule did not muster the 60 votes needed to stop a potential…
Titanic tax lessons
Today the U.S. Senate is scheduled to vote on the Buffett Rule that would require those making over $1 million a year to pay a minimum tax rate of 30% to put them in line with the average middle class American. Supporters of the proposal say that this is a…