A lot gets lost in the rhetoric about the Buffett Rule, which would impose a minimum 30% tax on millionaires.
And at the top of the list is this fact: Most millionaires already pay higher effective tax rates than just about everyone else.
Certainly, many people who earn at least $1 million a year pay an effective rate of less than 30%. But they still pay a higher percentage than most people further down the income ladder.
Latest: Germanwings Co-Pilot Suffered From "Illness," Ripped Up "Sick Notes" Day of Crash | Daniel Doherty
Los Angeles' City Council Cannot Understand Why Its Nanny State Zoning Change Miserably Failed | Michael Hausam