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April 12, 2012 at 15:27 PM EDT
What's Your Buffett Number?
For half a century, the average tax rate paid by the richest people in America has been trending down -- while tax rates for the middle class have essentially stayed the same. The trend is so unbalanced that, today, thousands of the wealthiest individuals in the United States are paying a lower tax rate than middle class families. And that's not fair. Warren Buffett realized the problem when he sat down and compared his tax rate with those of the 20 people in his office. That's what it took for him to learn that he pays a lower rate than his secretary -- and everyone else he works with. That's when he decided to speak out, and it's why President Obama's proposal to fix this problem is called the Buffett Rule. Now we've created a new tool to show exactly how millionaires paid a lower effective tax rate than you -- think of it as your own personal Buffett number. Try it out below. For more information: The Buffett Rule Explained President Obama Makes the Case for the Buffett Rule
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