Buffett rule could raise up to $50 billion per year while affecting just 0.8 percent of taxpayers.

[kpete]

A new analysis from Citizens for Tax Justice has determined that the Buffett rule as laid out in Obama’s SOTU could raise up to $50 billion per year to pay down the deficit, while affecting just 0.08 percent of taxpayers. – Analyzing the Buffett Rule

http://thinkprogress.org/economy/2012/01/27/413625/buffett-rule-50-billon/

Citizens for Tax Justice has calculated that President Obama’s “Buffett Rule” would, if in effect this year, raise $50 billion in a single year and affect only the richest 0.08 percent of taxpayers — that’s just eight percent of the richest one percent of taxpayers. [...]

To calculate the $50 billion figure, we assumed that there would be a minimum tax that applies to adjusted gross income (AGI) minus charitable deductions. (We’ll call this modified AGI.)
We assumed that a taxpayer with modified AGI greater than $1 million would face a minimum tax of 30 percent of modified AGI. The taxpayer would pay whichever is greater, their personal income tax under the existing rules or this minimum tax.

http://www.ctj.org/taxjusticedigest/archive/2012/01/ctj_calculates_buffett_rule_wo.php
http://underthemountainbunker.com/2012/01/28/10-interesting-things-to-read-this-morning/

[aquart]

1. CLEVER Buffet. Making sure ultra-rich are taxed at secretary rate.

Instead of the 80-90 percent they should be paying.

[Scuba]

2. Please edit your headline. Should read "0.08%"