buffett rule

The rich won't pay their fair share, as long as the Republican have their way.

President Obama made $789,674 in 2011 and paid $162,075 in taxes, an effective rate of 20.5%, which the White House confirmed was lower than his secretary, Anita Breckenridge.

President Obama was in Florida today to push for the Buffett Rule, requiring those who make more than $2 million annually to pay a minimum of 30% tax rate.

Senator Sheldon Whitehouse, a Democrat from Rhode Island, formally introduced what he's calling the "Paying a Fair Share Act of 2012."

President Obama's third State of the Union address focused on economic fairness for Americans, "It’s time to apply the same rules from top to bottom: No bailouts, no handouts, and no copouts."

The Oracle of Omaha speaks.