Obama, TIME, Cite Millionaire Corner Survey in Support of Buffett Rule

President Barack Obama, in urging Congress to pass his $447 billion jobs plan, cited Millionaire Corner’s recent survey that found support amongst millionaires for the Buffett Rule, one of his recommendations to cut the nation’s deficit by $3 trillion. In the survey conducted in October, just over 69 percent said taxes should be raised on those who make $1 million or more in income. Of these, just over 67 percent were millionaires. The Buffet rule is a reference to billionaire investor Warren Buffett’s New York Times op-ed piece, in which he called on Congress to raise taxes on those who earn more than $1 million. “In this country,” Obama said, “we don’t begrudge anyone wealth or success—we encourage it. We celebrate it. but America is better off when everyone has had the chance to get ahead—not just those at the top of the income scale.” Referencing Millionaire’s Corner survey regarding the Buffett rule, he said “These are the same folks who have seen their income go up so much, and I believe this is a contribution they’re willing to make.” Timemagazine also cited Millionaire Corner’s findings in a piece about support for higher taxes on the rich.