IREF - Institute for Research in Economic and Fiscal issues
Fiscal competition and economic freedom
According to the New York Times, President Obama will call for a new minimum tax rate for individuals making more than $1 million a year. The investor Warren Buffett inspired the name of Obama’s proposal. The proposal adds a new and populist feature to Mr. Obama’s effort to raise the political pressure on Republicans to agree to higher revenues from the wealthy in return for Democrats’ support of future cuts from Medicare and Medicaid.