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FILE - In this Feb. 15, 2010, file photo President Barack Obama congratulates Warren Buffett after presenting him with a 2010 Presidential Medal of Freedom at the White House in Washington. (AP Photo/Carolyn Kaster)

WASHINGTON (AP) — President Barack Obama’s proposal to impose a “Buffett rule” tax on the rich is generating enormous political wattage, but the plan itself would directly affect only a tiny fraction of Americans.

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