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Clinton Supports Buffett Rule

by Mike Godfrey, Tax-News.com, Washington

18 December 2015


On December 16, in Omaha, Nebraska, Democratic Party presidential candidate Hillary Clinton received the endorsement of the billionaire Chairman of Berkshire Hathaway, Warren Buffet, and she confirmed her support of the "Buffett Rule."

The proposed Buffett Rule, which also has the support of President Barack Obama, would set a minimum tax rate of 30 percent on individuals earning over USD1m a year, including dividends and capital gains.

During her speech, while she gave no details, Clinton said that her overall tax proposals will "increase taxes on the wealthy to ensure they pay their fair share while cutting taxes for the middle class." She has indicated previously that her proposals will not increase taxes on families earning less than USD250,000 a year.

TAGS: individuals | tax | tax rates | United States | individual income tax

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