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Tag: obama raising taxes

Obama: The Richest of the Rich Need to Pay More Tax (Equal to Normal Folks)

Billionaire Warren Buffet made waves recently by saying that he (and other billionaires) should be taxed more. The richest of the rich often pay a lower tax (as a % of their income) than the average citizen in the U.S.

Why?

How is that fair?

Even Buffet and Bill Gates have been telling people it’s just not fair (see video below).

Now, Obama is stepping it up and seeking to implement a new tax base that gets millionaires and billionaires to pay at least the same % of their income in taxes as normal people like you and me. The rule, named after Warren Buffet, would be called the ‘Buffet Rule’ according to early reports. Go Obama!