theoppoman
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REPORT: 'Buffett rule' would raise sust $31b from rich See the Drudge report
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REPORT: 'Buffett rule' would raise sust $31b from rich See the Drudge report
WASHINGTON (AP) -- A bill designed to enact President Barack Obama's plan for a "Buffett rule" tax on people earning more than $1 million a year would rake in just $31 billion over the next 11 years, according to an estimate by Congress' official tax analysts obtained by The Associated Press. That would be a drop in the bucket of the over $7 trillion in federal budget deficits projected during that period.
The figure is also miniscule compared to the many hundreds of billions the government earns from the alternative minimum tax, which Obama's budget last month said he would replace with the Buffett rule tax.
REPORT: 'Buffett rule' would raise sust $31b from rich See the Drudge report
$3 billion per year isn't even enough to pay the interest on the federal debt. And of course the CBO's projections are always off anyway, so it probably won't even be close to that much money.REPORT: 'Buffett rule' would raise sust $31b from rich See the Drudge report
Over ten years!
Free birth control for everyone!
REPORT: 'Buffett rule' would raise sust $31b from rich See the Drudge report