2 Oct 2011

Buffet Tax Rule for US welcomed overwhelmingly

Buffet Tax Rule for US welcomed overwhelmingly.

According to the survey report conducted by the Bloomberg Global Poll,  the idea proposed by US President Honourable Mr Barack Obama under the name of “Buffet Rule” has got quite overwhelming response with 63% of the voters welcoming the idea.



As per the idea, it was proposed that the every person in US should have same tax rate and to avoid class bias which can help prosper US economy and withstand the recent credit rating downgrade of US. Earlier the citizens in US having annual earning more than $1 million were required to pay less lesser share of their income than those having income less than or equal to $1 million. This was proposed by President Barack Obama on 19-september and was named as “Buffet Rule” since Warren Buffet, the chairperson of Berkshire Hathaway Inc and one of the richest person on this Earth had said that it was wrong that his secretary having lower income pays more share of his income while he having more income pays a lesser share of his income.

Though the Global subscribers of Bloomberg had responded positively towards this idea, but it seems that the majority of people in US do not like this idea since only around 40% of the people who did voting gave positive reaction while the other 60% opposed it. As per the some of the professional, it seems increment of taxes will affect availability of Jobs due to cost cutting.

Related Post :


0 comments:

Post a Comment

If you liked this blog then Join me at:
Facebook
Twitter
RSS