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Wed, Apr 11 2012 13:30:47

WH Office Hours: The Buffett Rule 4/11/12

Brian Deese, Deputy Director of the National Economic Council, responds to questions on Twitter regarding the Buffett Rule.

  1. WhiteHouse.gov
    ·
    Tue, Apr 10 2012 18:14:15
  2. WHLive
    White House Live@WHLive
    Hi, it's Brian Deese here - ready to take your questions #WHChat
    Wed, Apr 11 2012 12:07:30
  3. Sablecrow
    SableCrow@Sablecrow
    @whitehouse #WHChat Why is the debate framed around raising "rich" people's taxes to our rate instead of lowering everyone else's to theirs?
    Mon, Apr 09 2012 15:48:52
  4. WHLive
    White House Live@WHLive
    .@Sablecrow POTUS has actually cut middle class taxes multiple times. But tax reform will benefit from a Buffett rule as well #WHChat
    Wed, Apr 11 2012 12:12:43
  5. WJJansonJr
    Jack Janson@WJJansonJr
    @whitehouse @whlive #WHchat will they be forced to pay at least 30% in just their income tax or does that include capital gains tax?
    Wed, Apr 11 2012 08:16:35
  6. WHLive
    White House Live@WHLive
    .@WJJansonJr would include both wage income and income from passive sources including capital gains. #WHChat
    Wed, Apr 11 2012 12:14:21
  7. bccohan
    Brittany Cohan@bccohan
    RT @ByronKoay: #WHChat True or false, Reagan lowered top tax rate in 1986 to 28 percent.
    Wed, Apr 11 2012 12:13:48
  8. WHLive
    White House Live@WHLive
    .@bccohan Yes '86 reform lowered rates & broadened base. But Reagan also said was "crazy" that a millionaire paid < bus driver #WHChat
    Wed, Apr 11 2012 12:20:24
  9. darrenlittell
    darren_littell@darrenlittell
    #WHChat POTUS said #BuffettRule will stabilize deficit, this wk WH said not meant 4 deficit, now Pres says it'll close deficit. which is it?
    Wed, Apr 11 2012 12:18:32
  10. WHLive
    White House Live@WHLive
    .@darrenlittell Buffett rule would ↓ deficit; & every step counts. Part of POTUS's broader balanced deficit ↓ approach #WHChat
    Wed, Apr 11 2012 12:28:56
  11. kbsmith
    Kevin Smith@kbsmith
    We've been talking about fairness in the tax system. But nearly half of US wage earners pay no income tax. What about them? #WHChat
    Wed, Apr 11 2012 12:08:56
  12. WHLive
    White House Live@WHLive
    .@kbsmith Misleading stat: only 17% paid no federal tax (income or payroll); and most of those were elderly or students #WHChat
    Wed, Apr 11 2012 12:32:50
  13. JillBorak
    Jill Borak@JillBorak
    @WHLive Beyond fairness, beyond the deficit, what are possible "main street" economic benefits to Buffet Rule? #WHChat
    Wed, Apr 11 2012 12:24:09
  14. WHLive
    White House Live@WHLive
    .@JillBorak POTUS wants Buffett rule as part of tax reform to lower rates, lower deficit & boost our economy. Impacts all main st #WHChat
    Wed, Apr 11 2012 12:38:08
  15. jlaurence
    JohnLaurence Domingo@jlaurence
    Would the #BuffettRule really make sure that the tax system is progressive? #WHChat
    Wed, Apr 11 2012 12:06:31
  16. WHLive
    White House Live@WHLive
    .@jlaurence It would help ensure that for highest income earners, system doesn'tt end up being regressive. See: wh.gov/buffettrule #WHChat
    Wed, Apr 11 2012 12:44:20
  17. Age_B_
    AJ Bianchi@Age_B_
    @WHLive wouldn't #BuffettRule hurt economy by taxing small business owners who file business taxes as individuals? #WHChat
    Wed, Apr 11 2012 12:42:52
  18. WHLive
    White House Live@WHLive
    .@Age_B_ only about 0.2% of people w/small biz income make > $1 million/yr. Many of those already pay > 30% so would be unaffected #WHChat
    Wed, Apr 11 2012 12:47:58
  19. darrenlittell
    darren_littell@darrenlittell
    #WHChat first I'd heard #BuffettRule will lower tax rates - for who, exactly?
    Wed, Apr 11 2012 12:45:28
  20. WHLive
    White House Live@WHLive
    .@darrenlittell See POTUS Budget p38: "tax system should be simplified...with lower individual and corporate tax rates..." #WHChat
    Wed, Apr 11 2012 12:54:26
  21. Only4RM
    Only4RM@Only4RM
    Would the #BuffettRule apply to yearly earnings above $1M now subject to lower capital gains rates such as "carried interest"? #WHChat
    Wed, Apr 11 2012 12:47:28
  22. WHLive
    White House Live@WHLive
    .@Only4RM Yes. #WHChat
    Wed, Apr 11 2012 12:56:23
  23. thegreatbobo
    Bobo @thegreatbobo
    .@whitehouse would the #BuffetRule be applied on top of Cap Gains Tax? Would it be 45% rate on all Cap Gains over $1M? #WHChat
    Wed, Apr 11 2012 12:51:39
  24. WHLive
    White House Live@WHLive
    .@thegreatbobo No, the 30% would apply to wage and investment income, but not on top of current rate on investment income. #WHChat
    Wed, Apr 11 2012 12:59:08
  25. jwlapin
    James Lapin@jwlapin
    @WHLive #whchat How much money will the #BuffetRule bring in? What % of deficit will it close?
    Wed, Apr 11 2012 12:59:54

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