April 17th, 2012 — Tax Day!

April 17th, 2012 — Tax Day!

Why Americans want a Buffett Tax…

from Robert W. Wood, via Forbes April 3, 2012

If you believe the latest poll, most Americans want a Buffett tax.  Yup, 64% support a minimum tax of 30% if you earn $1 million or more. With considerable stage savvy, the “Buffett tax” was proposed by President Obama at his State of the Union address, with Mr. Buffett’s secretary sitting in First Lady Michelle Obama’s box. See State of the Union’s Taxes: Buffeted Poor.

While a Buffett tax has been proposed, the “Paying a Fair Share Act of 2012” (S.2059), passage seems unlikely. See Warren Buffett Endorses Whitehouse’s “Buffett Rule” Legislation. Yet March 29th it was proposed again by Sen. Tom Harkin (D-Iowa) in his Rebuild America Act. Think alternative minimum tax (AMT) on steriods.

The U.S. government’s budget deficit is expected to swell to $1.17 trillion in the 2012 fiscal year.

People cry out for change, but how?



Leave a comment

Filed under Commericial Real Estate Articles & News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s