Senate rebuffs 'Buffett tax'

US President Obama's plan to raise tax rate for wealthy to 30 per cent blocked by upper house of Congress.

    " />" />

    The US Senate has blocked a proposal by President Barack Obama to make the country's top earners pay more tax.

    The proposal was named after the millionaire Warren Buffett who supported Obama in calling for a law requiring US citizens who earn more than $1,000,000 a year to pay a 30 per cent tax rate on their income.

    But critics argued the law would punish people for their success. 

    Al Jazeera's Kimberly Halkett reports from Washington.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Double standards: 'Why aren't we all with Somalia?'

    Double standards: 'Why aren't we all with Somalia?'

    More than 300 people died in Somalia but some are asking why there was less news coverage and sympathy on social media.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Kobe Steel: A scandal made in Japan

    Kobe Steel: A scandal made in Japan

    Japan's third-largest steelmaker has admitted it faked data on parts used in cars, planes and trains.