President Obama continued laying what may be more groundwork for his re-election campaign Monday, including a new tax proposal. He calls it the “Buffett rule”: a new tax on people making more than $1million a year, who currently pay a much lower rate than an average middle-class American. The president, in fact, proposed this rule to a group of people with a lot of millionaires in it.
The number of Americans who are millionaires is pretty low — about 1 percent of the population. Members of Congress who are millionaires? Nearly 50 percent.