Get Ready for the Tax Wars

Robert Reich, San Francisco Chronicle
Get ready for the tax wars.President Obama wants to raise taxes on the rich, setting a minimum tax rate of 30 percent on millionaires (the so-called Buffett Rule, named after billionaire investor Warren Buffett, who says it's unfair that he pays a lower tax rate than his secretary).Mitt Romney, the presumed Republican presidential candidate, wants to lower taxes on the rich. He supports the House Republicans' plan to cut the highest tax rate from 35 percent to 25 percent, thereby reducing the taxes of millionaires by an average of at least $150,000 a year.

biomass index biomass tax credit