'Buffett Rule' legislation sparks debate

President Obama Addresses The Nation During State Of The Union Address
WASHINGTON, DC - JANUARY 24: (L-R) Warren Buffett’s secretary, Debbie Bosanek, Founder and Chair of Emerson Collective Laurene Powell Jobs and Plant Manager, General Motors Orion Assembly, Alicia Boler-Davis sit prior to the start of U.S. President Barack Obama's State of the Union speech on January 24, 2012 in Washington, DC. Obama said the focal point his speech is the central mission of our country, and his central focus as president, including "rebuilding an economy where hard work pays off and responsibility is rewarded." (Photo by Win McNamee/Getty Images) (Getty Images)

Senate Democrats today introduced legislation for the "Buffett Rule," as called for in President Obama's State of the Union address last week. The act would ensure that the highest-earning taxpayers pay at least a 30 percent tax rate.