{"id":22,"date":"2011-09-24T19:45:25","date_gmt":"2011-09-25T02:45:25","guid":{"rendered":"https:\/\/blogs.ubc.ca\/johnskimca\/?p=22"},"modified":"2011-11-20T13:02:54","modified_gmt":"2011-11-20T20:02:54","slug":"buffetts-law","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/johnskimca\/2011\/09\/24\/buffetts-law\/","title":{"rendered":"Buffett’s Law"},"content":{"rendered":"

Warren Buffett’s law, formulated based on Warren Buffett’s disgust at the fact he a lower tax rate than his secretary<\/a>, struck a chord with the American public, and is now being used as a launch platform for the Democratic party’s attempt at tax reform.<\/p>\n

\"Buffett\"<\/a><\/p>\n

The idea of tax reform is a topic that has divided Americans for centuries.<\/a> Buffett’s law would introduce a minimum tax rate to all people in America with an annual income greater than $1000000. These millionaires would be taxed at a rate at least as much as the middle class citizens who make less, but often have to pay more in percentage than their ne’er-do-well millionaire counterparts (Below is a ne’er-do-well millionaire).<\/p>\n

\"\"<\/a><\/p>\n

Buffett’s law seems to be a viable solution to the debt crisis in America.<\/a> Applying heavier taxes on the rich, especially those who can circumvent the taxes through loopholes, is not only a great way to generate more taxes, but could equalize the playing field for all citizens of America. However, like any kind of political debate, the republicans will argue that Buffett’s law is creating a class war, where as democrats will see this as one of the few ways to recover from the recession.<\/p>\n","protected":false},"excerpt":{"rendered":"

Warren Buffett’s law, formulated based on Warren Buffett’s disgust at the fact he a lower tax rate than his secretary, struck a chord with the American public, and is now being used as a launch platform for the Democratic party’s … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":8446,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/posts\/22","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/users\/8446"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/comments?post=22"}],"version-history":[{"count":8,"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/posts\/22\/revisions"}],"predecessor-version":[{"id":26,"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/posts\/22\/revisions\/26"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/media?parent=22"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/categories?post=22"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/johnskimca\/wp-json\/wp\/v2\/tags?post=22"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}