The Buffett Rule: Wealthy individuals often hire good accountants who find loopholes to lower their taxes. In addition, income from investments (e.g. Warren Buffett’s fortune) is taxed differently than normal income. In 2011, Warren Buffett wrote an op-ed in the New York Times entitled, “Stop Coddling the Super-Rich.” In it, he proposed what became known as the Buffett Rule: Tax codes must guarantee that the wealthy pay a higher dollar amount and a higher percent of their income in taxes. To do this, he suggested closing tax loopholes and raising taxes on investments. Discussion: Do you agree with Buffett that the wealthy should pay not only a higher dollar amount in taxes, but also a higher percent of their income in taxes? Why or why not?
Answer:No, I do not agree with Buffett as the wealthy barely have any struggles, and them only paying less than a dollar in taxes will make the government add to the less fortunate. Meaning: If a large number of people aren’t paying taxes, the government would not be getting a certain amount of money p/m&yr (per month and year), and that’s a huge problem because hundreds of thousands of dollars are being spent every day. And where does the government get that income? We, the givers. And so if they aren’t reaching that expectation, where will they get it from? And it’s likely that they will add to the less fortunate. Which is terrible. That can lead to putting thousands of people in debt leaving them miserable with nothingStep-by-step explanation: