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President Obama Touts 'Buffett Rule' at Florida University  President Barack Obama spoke at Florida Atlantic University Tuesday to make a pitch for the proposed "Buffett Rule." More than 4,000 students turned out to hear the president outline a plan that calls for a higher federal income tax rate for millionaires. [Image: President Obama speaking at Florida Atlantic University] Mr. Obama compared the concept of trickle-down economics to a failed scientific experiment. “In this country, prosperity has never trickled down from the wealthy few. Prosperity has always come from the bottom up,” he said. “And yet we keep on having the same argument with folks who don’t seem to understand how it is that America got built.” The “Buffett Rule” received its nickname from billionaire Warren Buffett, who has said he should pay a higher percentage in taxes than his secretary does. Mr. Obama explained to Tuesday's crowd that his proposal would tax people who earn more than $1 million per year at a 30 percent rate. He concluded his speech by urging students to e-mail or tweet their elected officials in support of the plan. |
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