President Obama appeared in Florida on Tuesday to make the case for the “Buffett Rule,” a policy he introduced in this year’s State of the Union address. The rule would institute a minimum federal income tax of 30 percent for Americans who make more than $1 million a year. The administration argues that the rule is designed to prevent top earners from avoiding a large portion of their share of taxes. It takes its name from billionaire investor Warren Buffett, who has publicly called for wealthy Americans to be taxed at higher rates than their midlevel employees.
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