Tag Archives: millionaires

Buffett Rule: Job killer or reasonable policy?

With the Buffett rule up for a Senate vote next week, the PR machine has moved into high gear as interest groups try to build public support for their side.

Depending on who’s talking, the proposed new tax rate for millionaires would be a massive job killer or a reasonable step toward balancing the federal budget.

Among the press releases landing in my inbox today were missives from the International Franchise Association and a group called United for a Fair Economy.

Guess which one supports raising taxes on rich folks.

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Ben Stein backs president on taxing millionaires

In case you missed it, President Obama’s campaign to raise tax rates on the rich gained an interesting ally a few days ago – Ben Stein.

In an interview on CNN, the economist/ actor said he rarely agrees with the president’s policies, but raising taxes on millionaires is “totally fair and abosolutely necessary” to save the economy. In his State of the Union speech last week, Obama said millionaires should pay at least a 30 percent rate.

It’s fantasy to believe that the economy will fully recover without raising takes on the uber rich, Stein said.

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Really rich is fiction

Despite the recession, the number of U.S. millionaires rose 15 percent to 4.7 million last year, according to a report released last week by Boston Consulting Group.

That’s a lot of millionaires. You may be living next door to one and not even know it.

But if you’re looking to rub elbows with the truly wealthy, the real money is in fiction. Mere millionaires are no where to be found on Forbes 2010 Fiction 15, a list of the richest fictional characters.

Tops on the list is Carlisle Cullen, multi-billionaire vampire and small town doctor of Twilight fame. He’s one of six newcomers on this year’s Fictional 15.

See the complete Forbes list here.