Tax Fairness and the Presidential Campaign

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When Mitt Romney released his tax returns, they showed a rate of just 14 percent on $20 million in profits, dividends and interest. The next day in his State of the Union address, President Obama called for tax reform that's become known as the Buffett Rule, calling economic fairness "the defining issue of our time." The President called for a 30 percent minimum tax on millionaires. "Tax fairness" will be part of his reelection campaign. Romney says it's all about "envy," and Republicans call it "class warfare." We ask a prominent pollster if Americans really care. Whatever happened to "progressive" taxation, where the richest pay the highest rates of all?  With lower rates, do they really invest in creating new jobs? If their rates are increased, will they be penalized for achieving the American Dream?

Credits

Guests:
Jim Tankersley - New York Times - @jimtankersley, Frank Newport - Gallup Poll - @gallup, Roberton 'Bob' Williams - Tax Policy Center, Jacob Hacker - Yale University - @ISPSYale, Tom Donlan - Barron's - @barronsonline

Host:
Warren Olney

Producers:
Christian Bordal, Caitlin Shamberg, Anna Scott