Some facts about the so-called Buffet Rule.
1. It is not limited to millionaires, but in time will include all those making 130,000, if Obama survives the 2012 election.
2. 70 percent of all small business owners will be taxed.
3. Buffet's secretary makes $400,000 per year and, in all likely hood, is in the same tax bracket as her boss.
Update: you should know that both Buffet and his secretary refuse to release pertinent tax information regarding this matter.
Update: you should know that both Buffet and his secretary refuse to release pertinent tax information regarding this matter.
4. Obama pays an effective tax rate lower than his secretary.
5. According to the Senate's Congressional Joint Committee on Taxation, chaired by Democrat Max Buchus, millionaires pay an effective tax rate of 22.2 percent while those making less than $200,000 pay 9.5 percent.
6. According to IRS reports, only 84 million Americans submitted tax forms for last year's tax season (2010). According to the Department of Labor, the workforce is 153 million strong, which means that 46% of this nations work force pays no "net income taxes" at all.
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