President Obama came up with the name: the Buffett Rule. A bill that is supported by conservative billionaire investor Warren Buffett. The bill requires millionaires to pay at least the same tax rate as their maids, 30 percent. Republicans call it class warfare.
More rich Americans like Bill Gates and George Soros approve of the bill, though not the big sponsors of rightwing causes, the Koch Brothers. Investor Soros had this to say about it on CNN. This is a very good time to start debating the bill for the Democrats, because of the coming presidential elections in november this year:
ZAKARIA: What about taxes? Do you support President Obama’s proposal to increase taxes on the wealthy?
SOROS: Yes, I very much do so, because it’s the big boom, the super-bubble that resulted in a great increase in inequality. Not only do we have the after effect where we have slow growth one way or the other, but if you have better distribution of income, the average American will be better off.
4 Comments
It’s obvious what the Koch brothers get for supporting conservative think tanks, the Tea Party and libertarian causes: tax cuts and corporate deregulation so they can become even more wealthy and powerful.
By r.u.serius on 14/02/2012 - 9:49What Soros and Buffett get is on the conspiracy theorists to explain.
By r.u.serius on 14/02/2012 - 9:50Other than a sense of social responsibility, there’s no credible explanation.
Thats wrong! Since Bush enacted these tax cuts just look at all of the people added to the workforce.
By repubs on 14/02/2012 - 10:07Not all rich people have no conscience.
By heather on 14/02/2012 - 10:13