Peter Boys, Boys Financial Services

The Buffett Rule

Warren Buffet discusses his New York Times commentary, ‘Stop Coddling the Super-Rich,’ which called on Congress (2011) to increase taxes on millionaires, and talks about The Buffett Rule (millionaire tax).

 

As one might expect, despite a majority support (68%) of millionaires-at-large, and the fact that the tax could conceivably bring in an additional $31-47 billion dollars over a decade, The Buffett Rule was blocked by a Republican filibuster and didn’t pass legislation.

(If a 68% public majority isn’t enough for a “democratic” government to uphold, you have to wonder what is.)

Sad.

But good interview, and well worth your time for a pragmatic approach to taxation of the rich… from the perspective of one of the wealthiest people in the world.

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