Tuesday, April 10, 2012

Tax Fairness

With Tax Day a week away,
President Barack Obama
turns up the volume on his call
for tax fairness.

Obama is slated to restate
a principle dubbed
the ”Buffet rule”

The White House is painting a portrait
of inequities in the tax code.
The very rich pay a lower rate
than less affluent Americans.
 
The “Buffet rule”
is a principle,
an issue of fairness.

 © 2012 Catherine Giordano
 
The “Buffet rule” is based on a statement made by billionaire investor, Warren Buffet, who said that he pays a lower percentage of his income in taxes than his secretary.  The “Buffet rule,” if enacted into law, would ensure that millionaires and billionaires pay at least a 30% tax rate.  Mitt Romney, the wealthiest man to ever run for president, paid a 14% rate in 2010.