The Buffett Rule

You would not believe how hard it was to find some good news today. I kept reading. And reading. And reading. And reading. Nothing. I don’t mean to be innocent. I want to know the workings of the world, both good and bad, but there seems to be a lot more bad things as of late. Honestly, do we always just have to report on atrocities and not happiness? I read some happy things today, a relief walk here and there, but the articles were pitiful. They just brushed the surface of the event. Maybe I am looking in the wrong place. Next week I hope to have better luck.

However, this week I was happy with Washington. Obama has done something which I think he can be proud of. It is called the Buffett Rule, in reference to Warren Buffet who influenced its creation by complaining that rich people (including himself) "have been coddled long enough by a billionaire-friendly Congress”.  The Buffett Rule raises taxes for the rich, but in a way that is fair to everyone and will help solve our enormous deficit. It goes like this: the percentage of income the average middle class person pays to taxes is higher than the average millionaire’s. The tax increase will make the wealthy pay the same amount of their income to taxes as the middle class.  .3% of our taxpaying population will be affected by this new rule, and honestly, these people have money to spare.

Yes. These people may have worked very hard for their money. They may deserve their money. They may oppose this new rule. They may accuse it of punishing them for being rich. However, this rule is just fixing a system that calls on the middle class to bolster their economy. Now it is time for the rich to give just as much, help just as much, to get us out of this economic slump. Paying the same percentage of income as someone with a standard middle class life will not hurt them in the least; they will still be the rich of America. However, they may not be able to buy their hundredth coach purse or another private plane. Darn.
 The Article which Inspired

Sincerely Sydney