America’s version of the ‘tax the rich’ debate
While the battle continues to rage over the government's plan to cap tax relief, on the other side of the Atlantic the US bill that inspired it has been killed. The ‘Paying a Fair Share Act 2012’ — more commonly known as the ‘Buffett Rule’ after billionaire Warren Buffett — failed to get the votes it needed to be debated in the Senate. It was backed by a majority of senators, with 51 voting ‘Yea’ to 45 ‘Nay’s, but fell short of the 60 votes needed to break a filibuster.