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Check your math. $16.9 billion * (29.2% - 21.5%) = $1.30 billion.

As to the additional revenues Buffett wants from the 236,883 richest households, if we assume the average of those households had taxable income of $5 million and if we raise their rates by 10% we get $118 billion.

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No, he is talking about restoring the 1992 rate onto the 2008 income, which was 90.9 billion NOT your 16.9 billion. So the increase would be about 7 billion.

from the article: >In 1992, the top 400 had aggregate taxable income of $16.9 billion and paid federal taxes of 29.2 percent on that sum. In 2008, the aggregate income of the highest 400 had soared to $90.9 billion — a staggering $227.4 million on average — but the rate paid had fallen to 21.5 percent.

I stand corrected.

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