White House Launches New Tool In "Buffett Rule" Push
BY Miranda Neubauer | Thursday, April 12 2012
The White House has released a new tool where users can enter their tax information or their tax rate to get an estimate of how many "millionaires" are paying a lower tax rate than they are.
It's part of an ongoing push from the White House new media team in support of the Buffett Rule, an administration-backed initiative to alter the tax code so wealthier Americans pay a greater proportion of their total earnings in taxes than they do now. The White House is also encouraging users to share the tool online or embed it. For example, the tool calculates that for a user with a 15 percent tax rate, "at least 28,100 millionaires paid a lower than effective tax rate than you in 2009." For a user with a 30 percent tax rate, that number goes up to 187,100.
The White House had previously created an online tax receipt where users could enter their information and see how tax dollars are spent on education, veterans' benefits or health care.