Friday, April 13, 2012

Seventy six per cent of public backs ‘Buffet Rule’ to have rich share tax load

Some lobbyists such as the U.S. Chamber of Commerce say the Buffett Rule would hurt small businesses. But of the U.S. small businesses reporting income, 74 percent earn below $100,000 annually and 72 percent (many sole proprietors and business owners) also report income in addition to their business, the report shows. This means that “the small share of taxpayers with small-business income in the millionaire category suggests that tax reform policies designed to ensure adherence to the Buffett Rule will affect few small businesses.”

. . . But the public still likes the idea of shared sacrifice, according to a United Technologies-National Journal Congressional Connection poll. It found that 76 percent of Americans support the Buffett Rule, versus only 19 percent who are against it. So opponents and defenders of the 1 percent resort to misleading attacks.

Could this be the end of supply side economics? Rightardia hope so. It never worked. 


source: Public backs ‘Buffet Rule’ to have rich share tax load

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