Wednesday, September 19, 2012

US House Passes "Buffett Rule"

But not the one you're thinking.  Warren Buffett famously stated that his secretary pays a higher percentage of her income in taxes than he does, and went on to lie that he and other rich liberals wished they were taxed more.  In true class-warfare style, the Democrats tried to use this as leverage to raise taxes, and failed.

Now, the Republican lead House of Representatives has passed its own version of the Buffett Rule.  Unlike the version which would have slammed small businesses, this simply provides a check-box on tax form 1040 (and variants, I'm guessing) that allows someone optionally to pay an increased amount of taxes.  Now Warren Buffet and his ilk can pay all they want in taxes, leaving the rest of us alone.

Somehow I doubt they'll avail themselves of the opportunity.

1 comment:

  1. "Buffet Rule" is as old as 1843.

    Sven

    ReplyDelete