Arab Today, arab today us senate rejects obama’s wealth tax proposal
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

US senate rejects Obama’s wealth tax proposal

Arab Today, arab today

Arab Today, arab today US senate rejects Obama’s wealth tax proposal

Washington - RIA Novosti

The US Senate has blocked President Barack Obama’s proposal to raise tax rate on those who earn more than $1 million a year. Despite the Democrats’ majority in the Senate, the lawmakers voted with a final tally of 51-45 on Monday, falling short of nine votes to move the debate on the so-called “Buffet Rule” forward. The \"Buffett Rule,\" named in a reference to Warren Buffett, the billionaire investor who has repeatedly complained that the richest Americans generally pay a smaller share of their income in federal taxes than do middle-income workers, was intended to impose a minimum 30% tax rate on annual incomes beyond $1 million. The current top income tax rate in the United States is now 35%, but many superrich Americans pay much less because of deductions and lower rates for income that comes from investments rather than earnings. The wealth tax bill is largely considered a key element of Obama’s re-election campaign and part of the broad plan for long-term deficit reduction. According to a recent Gallop poll, 60% of voters support Obama’s initiative saying that the wealthy must pay their \"fair share.\" However, the opponents of the “Buffet Rule” claim that the new wealth tax would not slash the deficit or improve the employment situation, but would discourage investment, instead. Political experts believe that the battle over the “Buffet Rule” is not over and will continue through the election campaign, which culminates in November, and beyond.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us senate rejects obama’s wealth tax proposal Arab Today, arab today us senate rejects obama’s wealth tax proposal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us senate rejects obama’s wealth tax proposal Arab Today, arab today us senate rejects obama’s wealth tax proposal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday