In response to:

President Obama Encourages Congress To Pass the Buffett Rule

Mr Huehls Wrote: Apr 01, 2012 8:39 PM
Hey! Obama! Look at Illinois's "Amazon" tax. For the year after it took effect tax receipts in that category went down about 33%. I imagine there are other unintended negative consequences too. Now to congress: Get real! Everyone making $10^6 or more shelters their income and the "Buffett" tax will probably have all the same unintended negative consequences for tax receipts that the Amazon tax did for Ill. Of course I don't need to tell you about that, because you are all millionaires at the very least !

In his weekly address, President Obama encouraged Congress to pass the 'Buffett Rule', which would raise taxes on anyone making over $1 million per year. The President said the legislation, if passed, would make the United States "a little fairer, a little more just and a lot stronger". Without it, he also warned:

"Seniors will have to pay more for their Medicare benefits. Students will see their interest rates go up at a time when they can’t afford it. Families who are scraping by will have to do more because the richest Americans are doing less."

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