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Buffett Rule a good place to start
Saturday, April 21st, 2012
Apr 20 2012
Warren Buffett, the billionaire critic of U.S. tax policy, started it all by lamenting that his tax rate is lower than his secretary’s. A secretary who has a few hundred or thousand more dollars in disposable income is likely to spend it, whether on food or on sending a kid to college. This spending will stimulate the economy. People who make, say, $5 million a year might use a tax break to splurge on an extra house, but they also will probably invest in financial instruments that are more likely to drive layoffs to increase a company’s profit margin than they are to create jobs.
Tags: ideology, standard of living, tax
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