The so-called 'Buffett Rule' - a proposed minimum tax rate for millionaires named for billionaire Warren Buffett - failed Monday in a procedural vote in the U.S. Senate.
Republicans called the measure a divisive Democratic distraction from the nation's real problems that would not address the economy's real woes, reported FoxNews.com
"This legislation will do nothing with regard to job creation, with regard to gas prices, with regard to economic recovery," Sen. Jon Kyl of Arizona, the No. 2 Senate GOP leader, was quoted as saying on the website.
"Only around 210,000 taxpayers , a bit over 1 of every 1,000 , would face higher federal taxes if the measure were enacted, according to an estimate by one respected bipartisan research group," reported philly.com.
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