What difference will the “Buffett Rule” make?

This trip around the mulberry bush is in response to a comment on this post.  I fat-fingered the number of people that will be affected by the Buffett Rule.  I said 400, and the true number is 400,000.  So here is the correction.  

Now, that would normally be enough, but thanks to the genius of M. Shapiro over at Political Math, I have a bit more detail to share.  

President Obama and Democrats have been talking up the Buffett Rule (a minimum 30% tax on people making over $1 million per year) for some time now. So what kind of difference does the Buffett Rule make?

I’ve seen revenue estimates between $30 billion and $40 billion over 10 years, but what kind of difference would that make in the scope of government finances?

Not too much.

And the visual says it all.  

Stacy on the Right

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