The Patriot Post® · Buffett Rule Already In Place

Barack Obama already has his Buffett Rule, his tax wannabe tax policy that taxes the rich at 30% because fairness and equality. But the Congressional Budget Office predicts the most affluent Americans will pay 33% of the taxes in 2013. According to CBO numbers the average tax rate in 2011 was 17.6% but the high-earners paid a 23% tax rate. In other words, the Left already has its Buffett Rule. And how has it been working out? Daily Signal’s Curtis Dubay writes, “One of President Obama’s goals was to increase the tax burden on the rich. He succeeded in raising their already substantial burden. Those hikes are one reason the economy continues to stagnate well below its potential because they have stifled investment by reducing incentives to take risk.” More…