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Tax the rich: Should millionaires really pay more?

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The issue provokes strong opinions that don't always fall along class lines.

Four blocks from the protest, Richard Golle, a homeless Vietnam War vet and former stone-mason, sat on a stack of overturned mail crates, his back against a Chase bank's granite facade. At his feet was a paper coffee cup. The few nickels inside weren't enough to cover the bottom.

"They don't really understand the system," Mr. Golle said of the protesters. "The rich people are not oppressing the poor people."

"I'm a poor person, and I don't knock anyone that's rich," he added. "If you want them to spend their money to improve the economy, you've got to give them a tax break. You've got to give them something back."

No one downtown knew it on the first day of Occupy Wall Street, but the tax battles were about to intensify. That night, as McFarlane and his fellow protesters bedded down in the park, using their cardboard signs as mattresses, more news broke: President Obama planned to propose a new millionaire's tax, which he had named – what else? – the Buffett Rule.

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With an estimated net worth of $39 billion, Buffett is the second-richest man in America. When the "Oracle of Omaha" speaks, the markets listen. Yet he's been repeating the same one-liner for more than a decade.

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