Not sure if you remember, but in Headline’s first ever news update we briefly mentioned that Obama was unveiling a new set of laws to kick the economy back into shape. With a 9% unemployment rate that has held steady and slow economic growth, we’d be pretty determined to pass something, too, and pass it fast.
This time, Obama’s targeting the rich. The millionaire-and-above rich.
Tomorrow, the President will submit a proposal that seeks to raise the minimum tax rate on wealthy Americans. The goal is to ensure that wealthy Americans are taxed at the same rate as the less wealthy, thereby leveling the playing field between rich and poor.
But do taxes really work that way, and will Obama’s proposal really get rid of the tax system’s loopholes? And speaking of taxes, do you think they should be raised, lowered, or kept the same?
Tell us what YOU think.
By the way, if you want to refer to Obama’s proposal rumor has it that it might be called the Buffet Rule.