The Buffet Rule's Billionaire Backers - Forbes.com
Today Barack Obama is to announce his plans to push for a proposition originally made by billionaire Warren Buffet. Buffet's proposition is that the country's wealthiest citizens should pay at least 30% of their income to taxes. As it stands, there are billionaires who pay a lower percentage for taxes than their secretaries or plumbers. The largest ethical issue with this legislation is such a dramatic change in tax structure. On the other hand there are individuals and corporations who are currently able to dodge taxes by sending money to offshore bank accounts and other loopholes only available to the wealthy. The Buffet Rule might or might not be able to close these loopholes depending on its scope.
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