Senate rebuffs 'Buffett tax' | News | Al Jazeera

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


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