Ask Heritage: Is the Buffett Rule an Election Year Gimmick?

Is the Buffett Rule an Election Year Gimmick? The facts of the Buffett Rule are simple. The President wants millionaires (and small businesses taxed as individuals) to pay a minimum tax of 30 percent. For all of his rhetoric that the measure would "stabilize our debt and deficits for the next decade," the Buffett Rule would bring in only $47 billion in revenue in ten years. To put those numbers in context, President Obama's budget calls for adding $6.7 trillion to the national debt. So the Buffett Rule would cover just 0.007% of all of Obama's debt and .001% of Obama's spending. Read more . . . Other Recent Questions What Will Tax Day Feel Like in 2013? Who Is Obama's Newest Gas Price Scapegoat? Does the GSA Scandal Reveal the True Costs of Big Government? What Does North Korea's Rogue Missile Launch Mean for U.S. Interests in Asia?

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