Buffet Rule? What is it?

Some of the biggest news of the week was centered around the Senate’s prohibiting the implementation of the Buffet Rule.

The Buffet Rule was a new tax plan that was proposed by President Obama. This rule would set a minimum of 30% on taxes of individual’s making more than a million dollars per year.

The rule gets its name from a multi-millionaire investor, Warren Buffet, who in 2011, took a stand, stating that he wanted a higher tax rate for the wealthy.

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*photo from warrenbuffet.com

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