The Buffett Tax

As some people worry about the money they spend on gas or groceries, a group of Americans sit back and watch their money flow in.

I do not mean to insinuate that millionaires and billionaires do not work hard because most of them do. However, I see no argument that their lives are anywhere near as hard as those who are living paycheck to paycheck.

Warren Buffett has over the years called for higher taxes for America’s uber-rich, and now it seems he might get it.

Obama is looking to propose the “Buffett Tax,” a new tax on wealthy Americans that would work to keep some of the wealthy from avoiding taxes and increase the rates that they pay.

Although it would only affect about 450,000 Americans, the tax could very much benefit the economy, which as we all know, needs all the help it can get.

I look back at the arguments I have heard on why the rich should not have higher taxes; they don’t deserve it, it wouldn’t really help, it’s not fair. But none of those arguments make sense to me.

Taxes are not a punishment, they are just a fact of life in a society like ours. If you enjoy the country you have then you better accept the idea of taxes.

Taxing the top 0.3% of Americans (which this would do) a higher amount could really help. And on top of it, the bill wouldn’t actually raise taxes, it would just eliminate some of the Bush tax cuts, which I think we can see did not work judging on where are economy is now.

I hope that this bill can get through Congress during their Dec. meeting on deficit reduction. I think that this could be a helpful bill, but on top of that, it just makes sense.

America’$ Next Top Billionaire

What do William Gates III, Warren Buffett, and Lawrence Ellison have in common? Well, they are not only America’s three richest men, but rank among the richest men in the world.

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Lawrence Ellison stands in third place in America’s richest men, worth $28 billion. He is the founder of the Oracle Corporation, one of the largest hardware and software corporations in the world. His successful company has over 370,000 customers, with industries in over 145 countries around the world. Born and raised in Chicago, he attended University of Chicago and studied physics. However, he dropped out and never received his diploma. Who knew that a college drop out would end up becoming the sixth richest man in the world?

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