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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 ...
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 ...
Warren Buffett has yet to ... the race could be tied 269-269 and head to the House of Representatives. ... He lambasted America’s tax code for making his secretary pay more on a percentage basis ...
In Tuesday's State of the Union speech, President Obama invited Warren Buffett's secretary, ... more often, heated debate -- about taxes. The signs are everywhere. ... President Obama invited ...
Alice Schroeder, The Snowball: Warren Buffett and the Business of Life [232] (written with Buffett's cooperation). [233] Mary Buffett and David Clark, Buffettology [234] and four subsequent books (combined sales of more than 1.5 million copies). [228] Janet Lowe, Warren Buffett Speaks: Wit and Wisdom from the World's Greatest Investor. [235]
In its update released this year for the tax year 2021, the IRS reported that the top 1% paid a slightly lower tax rate of 25.9%, while the bottom 50% were taxed more highly at 3.3%.
As the CEPR noted, the median annual household income for a full-time worker in the U.S. is $54,132 — just a little more than one-third of the $160,200 income threshold for Social Security taxes.