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.
Last Modified: 17 Apr 2012 10:09

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.

Al Jazeera
Topics in this article
Featured on Al Jazeera
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Tokyo government claims its homeless population has hit a record low, but analysts - and the homeless - beg to differ.
3D printers can cheaply construct homes and could soon be deployed to help victims of catastrophe rebuild their lives.
Lack of child protection laws means abandoned and orphaned kids rely heavily on the care of strangers.
Booming global trade in 50-million-year-old amber stones is lucrative, controversial, and extremely dangerous.
Legendary Native-American High Bird was trained in ancient warrior traditions, which he employed in World War II.
Hounded opposition figure says he's hoping for the best at sodomy appeal but prepared to return to prison.
Fears of rising Islamophobia and racial profiling after two soldiers killed in separate incidents.
Group's culture of summary justice is back in Northern Ireland's spotlight after new sexual assault accusations.