President Obama previewed the centerpiece of his reelection campaign when he delivered his State of the Union this January: “Tax reform should follow the Buffett Rule. If you make more than $1 million a year, you should not pay less than 30 percent in taxes. … Now, you can call this class warfare all you want. But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense.”
But since Obama’s State of the Union, the president and his press secretary Jay Carney, have been extremely vague about how the Buffett Rule should be implemented. After yesterday, we now know why.
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