Do you know what the Buffett Rule is? If you don't if doesn't matter because it failed to pass in the Senate today. If passed it would have resulted in adding $47 billion to the government coffers over a ten year period. That's about how much we spend in one morning---every single day.
One more thing: the tax would have doubled the capital gains tax to 30%. I'm being somewhat selfish here but years ago, anticipating old age, I sort of thought after I retired my investements would help cover needed expenses. Lizzie and I planned ahead. Capital gains taxes hurt retirees but it's evident the Obama administration could care less about us geezers.
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