This article was last updated on April 16, 2022
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Warren Buffett has become an increasingly popular name for the Americans. President Obama recently proposed a "Buffett Rule" according to which people earning around $ 1 million will have to pay a minimum amount of tax. This rule was primarily inspired by Buffett’s remarks that people like him who earn in bulk usually pay less in taxes owing to loopholes in the tax system.
The latest news is that Warren Buffett will be attending a fund raiser for President Obama’s re-election campaign in Chicago on the 27th of next month, that is, October. The fund raising event is expected to see the presence of various donors of the President’s 2008 campaign together in Chicago.
The billionaire has been the argument in Obama’s tax reform proposal in which Obama has stated that like Warren Buffett, all millionaires in America must pay a tax amount that equals to the tax that middle-income earning families are paying.
The Republicans have condemned the Buffett Rule including Obama’s tax revenue reforms.
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