The Buffett Rule: Wealthy individuals often hire good accountants who find loopholes to lower their taxes. In addition, income from investments (e.g. Warren Buffett's fortune) is taxed differently than normal income. In 2011, Warren Buffett wrote an op-ed in the New York Times entitled, "Stop Coddling the Super-Rich." In it, he proposed what became known as the Buffett Rule: Tax codes must guarantee that the wealthy pay a higher dollar amount and a higher percent of their income in taxes. To do this, he suggested closing tax loopholes and raising taxes on investments. Discussion: Do you agree with Buffett that the wealthy should pay not only a higher dollar amount in taxes, but also a higher percent of their income in taxes? Why or why not?
