Friday, September 30, 2011

Poll: 63% of Investors Support Pres. Obama’s Planned Tax Increase on the Wealthy

Obama Backed by 63% of Investors for Buffett Rule

Anyone who thinks that Wall Street is not in support of President Obama’s tax increases on the wealthy had better think again.  According to a recent poll, over 63% of investors are behind the “Buffett Rule,” in which the president wants to see wealthy Americans pay their fair share in taxes:

Global investors overwhelmingly support President Barack Obama’s proposed tax increase for those earning annual incomes of $1 million or more in an effort to reduce the deficit.

By a margin of 63 percent to 32 percent, respondents in a Bloomberg Global Poll approved of the president’s proposal, known as the “Buffett rule” in a nod to Warren Buffett, the chairman of Berkshire Hathaway Inc., who has said it is wrong that he pays a smaller share of his income in taxes than does his secretary.

Obama said Sept. 19 that making sure that the wealthy pay at least the same tax rate as the middle class was “just the right thing to do.” House Speaker John Boehner accused the president of practicing “class warfare,” saying any new tax would hurt job creation and Buffett’s situation was not typical.


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