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Implement Warren Buffett's proposal for a federal minimum effective tax rate of 30% on those with income over $1 million and 35% on income over $10 million, considering all sources of income (e.g., wages, capital gains, carried interest, and dividends). The top 400 taxpayers paid an effective federal tax rate of 26.4% in 1992 but 19.9% in 2009. This is known as the "Warren Buffett Rule" based on his NYT Op Ed "A Minimum Tax for the Wealthy" in November 2012.

Submitted by Peter Birmingham in Taxes & Budget Dec. 11, 2014, 10:08 a.m.
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#746
229 votes
Citation: http://www.nytimes.com/2012/11/26/opinion/buffett-a-minimum-tax-for-the-wealthy.html

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