The Evening Buffet

Chart of the Day: 'Buffett Rule'

“ So how much would the so-called Buffett Rule bring in? It's hard to say, because Obama didn't define precisely how it would work. But he did say it would create a tax rate floor for those who make more than $1 million per year. So let's use 2009 tax return data from the IRS to imagine some possible scenarios for how much additional tax revenue the new tax could bring in. Here's a chart: ” Am I wrong?  It seems this is first time I read something in the ATLANTIC that made sense.   If you follow this debate, I would bet money that someone will argue "Look, maybe taxing the rich at 100% only generates $450B, but that's enough to start funding schools at proper levels."   And next year it might generate what? $3?