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Distribution of average tax rates including individual income tax and employee payroll tax. The Buffett Rule is named after American investor Warren Buffett, who publicly stated in early 2011 that he believed it was wrong that rich people, like himself, could pay less in federal taxes, as a portion of income, than the middle class, and voiced support for increased income taxes on the wealthy. [5]
The Buffett Rule is a principle named for billionaire investor Warren Buffett who famously expressed concern that his effective tax rate is lower than his secretary’s because of tax rules that ...
On PBS, Jamie Dimon described the Buffett Rule as a good idea for clamping down on US debt. It says richer households shouldn't pay taxes on a smaller share of income than middle-class ones.
What is the 'Buffett Rule'? The Buffett Rule states that no household earning more than $1 million annually should pay a smaller share of their income than middle-class families.
English: President Obama explains why we need the Buffett Rule, which make our tax system more fair by ensuring that people who make more than $1 million a year pay at least the same share of their income in taxes as middle-class families.
It's widely known that billionaire Warren Buffett and millionaire President Obama pay taxes at a lower rate than their secretaries, who make much less. This "inequality" led them to devise a plan ...
Buffett acknowledged that his metric was a simple one and thus had "limitations", however the underlying theoretical basis for the indicator, particularly in the US, is considered reasonable.
Over the past 30 years, the divide between the wealthy and the rest of America has ballooned. The "great contraction" of the past few years has only accelerated the trend. Recently, the top 1% ...