This article was last updated on April 16, 2022
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The disagreement between "class warfare" and "fair share" is at an all-time high. On Monday President Obama is to present the "Buffett Rule". This is a part of the debt reduction plan that Obama has worked out in order to hold together and boost the crippling economy. The Buffett Tax has been designed to make people, who earn more than $1 million to pay tax. This tax has been named after billionaire U.S. investor Warren Buffett.
However, the "Buffett Rule" has already started facing strong opposition.
Paul Ryan, chairman of the House of Representatives Budget Committee, and Mitch McConnell, Senate Republican leader, said the proposal would limit growth and hurt corporate investment in an already stagnating economy.
"It adds further instability to our system, more uncertainty and it punishes job creation and those people who create jobs," Ryan said. "Class warfare may make for good politics but it makes for rotten economics."
The final result of the proposition is yet to unveil. However, one thing is for certain : the republicans will not easily accept these changes.
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