18 Sep '11, 1am

US President Obama to propose 'Buffett Tax' on millionaires as part of deficit recommendations to Congress

US President Obama to propose 'Buffett Tax' on millionaires as part of deficit recommendations to Congress

President Barack Obama, in a populist step designed to appeal to voters, will propose a 'Buffett Tax' on people making more than US$1 million (S$1.24 million) a year as part of his deficit recommendations to Congress on Monday. -- PHOTO: AP WASHINGTON (REUTERS) - President Barack Obama, in a populist step designed to appeal to voters, will propose a 'Buffett Tax' on people making more than US$1 million (S$1.24 million) a year as part of his deficit recommendations to Congress on Monday. Such a proposal, among suggestions to a congressional supercommittee expected to seek up to US$3 trillion in deficit savings over 10 years, would appeal to his Democratic base ahead of the 2012 election but likely not raise much in revenues. White House Communications Director Dan Pfeiffer said in a tweet on Saturday the tax would act as 'a kind of AMT'(Alternative Minimum Tax) aimed at ens...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

Tweets

Obama: The Richest of the Rich Need to Pay More...

planetsave.com 18 Sep '11, 2pm

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#occupywallstreet Coincides with Obama Push to Make Millionaires Pay Fair Share in Taxes | Planetsave via @psave

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straitstimes.com 07 Sep '11, 2am

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Obama Warns Iceland on Whaling Activity

green.blogs.nytimes.com 16 Sep '11, 9pm

Agence France-Presse — Getty Images A boat bringing two fin whales to base in Hvalfjgsrour, Iceland, in 2009. In a move ha...

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green.blogs.nytimes.com 16 Sep '11, 9pm

Agence France-Presse — Getty Images A boat bringing two fin whales to base in Hvalfjgsrour, Iceland, in 2009. In a move ha...