Poll: Six in ten support the "Buffett Rule"

President Obama is urging passage of the so-called "Buffett Rule," which would ensure that high income Americans pay at least 30 percent in taxes.

A new survey from Gallup has found that Americans favor President Obama's "Buffett Rule" proposal by a wide margin, with 60 percent saying they favor the rule and 37 percent opposing it.

In asking the question, Gallup did not actually use the term "Buffett Rule." Here's how the question was asked: "Would you favor or oppose Congress passing a new law that would require households earning $1 million a year or more to pay a minimum of 30 percent of their income in taxes?"

That conforms to the way President Obama has been describing the proposal, though the version of the bill set for a Senate vote on Monday is slightly more complicated. It would mandate that income above $2 million would be taxed at least at a 30 percent rate, with a graduated boost in the minimum marginal rates for income between $1 million and $2 million. The GOP-led House is not expected to take up the bill, and it is thus not expected to become law.

Seventy-four percent of Democrats, 63 percent of independents and 43 percent of independents told Gallup they support the Buffett Rule as articulated by Gallup. Fifty-four percent of Republicans opposed the rule.

Mr. Obama and his allies have been pushing the Buffett Rule in what appears in part to be an attempt to frame the general election. They has been casting the president as a fighter for economic fairness and presumptive GOP nominee Mitt Romney as a defender of a status quo that allowed Romney to pay an effective tax rate of just 13.9 percent on $21.7 million in income in 2010. While Mr. Obama wants to raise taxes on some of the highest earners via the Buffett Rule, Romney is proposing a tax cut for the highest earners.

Mr. Obama and first lady Michele Obama released their 2011 joint tax return on Friday, which showed they paid an effective rate of 20.5 percent on an adjusted gross income of $789,674. They would not have been impacted by the Buffett Rule had it been in effect during the 2011 tax period.

The Buffett Rule is named after wealthy investor Warren Buffett, who argues that it is wrong for a billionaire such as himself to pay a lower tax rate than his secretary.

In a separate Gallup poll last April, 59 percent of adults said they support increasing taxes on households making $250,000 or more per year. If the Bush-era tax cuts are allowed to expire at the end of the year, taxes will go up on all Americans. Mr. Obama favors letting those tax cuts expire for households making more than $250,000 per year, but extending them for those making less than that threshold; Republicans want to extend the Bush-era tax cuts for everyone. 

Hotsheet Live: Obama, Romney general election game on

[OnTheCrown]

There is no evidence that the president's assertion that the Buffett Rule would "grow the economy." Just as the stimulus did not reduce the unemployment rate below 8% nor halve the deficit as he promised by the end of his first term.

Because his economic policies fell flat, Obama is touting the Buffett Rule as an attempt to demonize his political opponents. After all, it is an election year.

I smell desperation.

[cbNewsey]

Yeah... Obama says, "six out of ten black non taxpayers agree to the Buffet plan." Polls are such a joke... numbers taken from select pools that numbers can be slapped on for the appearance of legitimacy.

[myabc123]

Here is the latest disingenuous talking point from those who would see the middle class destroyed --------

For those of you unfamiliar with Dave Ramsey, he's supposed to be some big financial advice guru . He's got a radio show that's syndicated all over the country. For the last 2 weeks on the radio station that he's on locally, I've been assaulted with the following stupid commercial (I'm paraphrasing here) " How come if Lady Gaga or some sports figure makes a bazillion dollars a year it's ok but if a CEO makes that kind of money he's automatically a crook? "

I've been hearing this weak talking point from alot of different sources lately. Well Dave, here's the thing --- Lady Gaga and Peyton Manning are not trying to take away my pension and healthcare plan and send American jobs to India ! The CEO of the company I work for ,Verizon, is.
If by some method entertainers and sports stars start doing these bad things to me then I guess I will start speaking out against them too Dave. Nice try though.

[emolson428]

We have over 9% unemployment, double gas prices which are going up, 1 in 4 houses are upside down in value and plumeting and at risk of foreclosure, more forclosures happened last month then ever in our history, only 54% of college grads can find work when during Bush 95% found work, and unemployment for 18-24 year olds is up to 19%, over 55 million women became unemp or lost careers from 2009 vs 5700 men across the same categories, the violations against our constitution are ongoing, Obama is being investigated since 2008 for campaign fraud because he accepted over 500 million from the middle east, states are suing him because he has never presented documentation of who he is and now there is evidence that the birth certificate he posted for the American public is a forgery, which is a crime in this country. And the best that Obama can do for this country is the Buffet Law which only affects 4000 people and if these millionaires actually get a salary, which most of them do not because they live off of their investments and do not get an income any longer and so do not qualify to pay income taxes, this would account for maximum of 150,000,000 in revenue which at spending of over 1 trillion dollars a year and climbing does nothing to reduce the deficit or create jobs! WOW..What are we discussing here. Obama is not interested in following our laws or upholding our constitution. He lies repeatedly which is documented, he is not interested in bettering the economy or he would better the economy and not waste our time or intelligence with this class warfare nonsense that none of us, with a brain, is going to buy (since when is it horrible to be successful in America), or waste our time and intelligence with BS laws which do nothing to reduce deficits or create jobs or free up the private sector to create jobs...He is not fooling anyone anymore and he knows it. He only hope is to try and fraudulently win the election with Project Vote again, who at last report, are in full force at the border registering illegals to vote for Obama--like they did before. That is why he is suing states when their people and most people over 73% want voter id laws to protect our ballots, to prevent voter id laws to be in place..b.ecause then Mickey Mouse and dead people, prisoners, and illegals, cannot have their vote bought or vote for him. We can't even cash a check in this country or use our credit cards without showing our id, but somehow only Obama feels inclined to overrule state law and what the people want, to ensure integrity in our polling system, and enact what we want which is voter id protection. Instead opting to release Black Panthers intimidating voters at polling stations when they refuse to show in court and our prosecuted for attempting to tamper with our votes! People wake up, fight for voter id, look for OBAMA to try to get re-elected with phony votes and polling intimidation and stand united! Now he has committed a crime in presenting a forgery to the american people according to a professional 20 people task force of detectives and lawyers who sought to clear up the birth certificate suspicions in voters in many states. Over 29 states have now sued to make the elections committees prove that Obama is eligible to be on their ballots with more every day! Some are being dismissed but none of them have been dismissed declaring he has proven who he is, only on weird technicalities. Because no one will stand against his tyranny..so we all must. Just like our forefathers. Because it doesn't end here. Hiders always have something to hide...and obama has spent over 2 million dollars in legal fees and still ongoing, not providing a 12.00 birth certificate to the courts as they have ordered him to repeatedly.the only people who hide. Have something to hide. This is our country.this is our life.These are our children and grandchildren and their futures. Quit being sheep, open your eyes and quit refusing to see what is right before your eyes. Stop believing lies and media hype and stand up for America. Show Obama what Americans are really like. We don't stand for dishonor and tyranny!United we stand,divided we fall that is why he is trying to divide us. But he won't succeed. We are all onto him. Watch the polls, look for voter fraud, and fight fight fight for voter id laws. He is fighting them because he knows the only way he can win now. Is to submit phony votes. Look up all the states with voting fraud in the courts today. Look at the 10's of thousands of votes submitted in numerous states in numerous elections, electing people, that the people didn't vote for Do the research,open your eyes,and fight for our country.Anyone but Obama. Get our country back. Remember Hitler was elected President of a democracy and spent years appointing to committees his personal followers, taking over the media, step by step took away liberties until they all woke up to communism!

[Zorg_P]

The more you receive, the more you pay, simple as that. Those pointing fingers at the poor suggesting they pay no taxes are wrong. The poor pay a higher percentage of their income in taxes than many others given all the Social Security, medicare, sales, excise, gas, cigarette taxes they pay. Beside, if the poor were taxed more, they'd only become poorer. Clearly cutting taxes for the wealthy does not create jobs, all it does is create a financial crisis which will then be blamed on the poor and the meager handouts they get.

[wfw3536]

Obama ran as the great uniter, now is running this time as the great divider. His class warfare assult is a political joke, as his tax on the rich will raise 4 to 5 billion dollars a year. Now, if you are good in math you will realize this is a drop in the bucket as Obama spends more than a trillion dollars a year that we have to borrow. Instead of wasting everyones time, when will Obama come up with specifics like Paul Ryan that will totally reduce our debt in 25 years. Don't worry, Obama's mission is to spend and the spend some more and could care less about our children who someday will face the same burden that they are in Greece, Spain and a number of other European countries that are going bankrupt.

[BuckeyeChuck]

Bottom line is we need to go back to an indexed tax code like we had for the thirty years America grew fastest. Taxes ranged from 20% to 90%.

[jmike107]

The government provides services. 47% of the Country gets these services for free. Mitt Romney pays 6 million a year for those same services. The biggest challenge the majority of actual taxpayers have is not the amount of taxes they pay but the inefficiency and incompetence with which the government handles their money and the utter contempt with which they treat those taxpayers.

[TimeToEvolve]

Who the heck are the idiot 40% who want to be robbed by people like Robmee. For over 40 years the Top of the Top 1% have been stealing our money and now they want to steal our democracy. Well, we are not going to let them get away with this plot to complete the job.

[cbNewsey]

What are you talking about? Get back to the question.

[myjargoning]

The federal income tax rate is 35% for Single Earner $200,000+, or multi-earner $250,000+. That's already 10% more than the "Average 50K/year earner".
If we return to the days from Clinton through half of Bush's first term, it was about %14 more than the average. It's already not fair for the business of US Government to ask for more from certain people. But the bill isn't about income taxes (which will still go up after the end of the year, bye bye tax cuts, hello taking home the same).

It's more about raising the percentage the government gets on Long Term Investment Capital Gains - which means if you have an investment, longer than a year, you get taxed %15 on your winnings from that investment....IE: Invested $2000, sold it for $2500 2 years later, government get $75. If you cash out in less than a year, you pay your tax bracket percentage...about 1.5 to 2 (average) times more.

The advantage is it collects more money from a select few elite/wealthy/smart investors. The dis-advantage is it's less money for a smarter retired person(s) to collect from their stock investments. It also gives the elite less of a reason to invest, which could make public markets, and private investment even shakier....and last I checked, unless you're an insider, you're not getting a "big cash prize" from investments lately.

Also...remember that money doesn't trend anywhere. Sure the rich people have lots of money, but they don't have ALL of the money, the reserve prints most of it for us middle earners (they keep printing it as long as you want to keep taking it, and they'll slow down when you spend it too fast) If you want more money, think of something...that would make you or others happier, or more enabled...or something....a product, a service, a book......and DO IT...before it becomes illegal.

[TimeToEvolve]

Where did you fer this from the Fox/Rush Parrot Channel? The fact is that in American, the less you make the more you pay in taxes. THAT"S a fact and it is reverse Robin Hood stuff.