WARREN BUFFETT GETS A BILL NAMED AFTER HIM

He always complained about tax regulations in his beloved United States. Well, it seems his days of moaning may be over. When Buffett reportedly said that he should not be taxed any less than his secretary, President Obama took him up on his own suggestion. And introduced a bill.

 

And, true to form, the Republican machine has climbed on the bandwagon, putting its on spin on the scenario. Theirs [Republican's] is called "The Buffett Rule Act of 2012", a close version of that of the Demacrats. Michigan Republican, Dave Camp, has thrown some light on the Act, saying

 

"If Warren Buffett wants to give, then H.R. 6410 allows him to give to his heart's content. [The Act] makes it easy for those who want to donate money to the Treasury for debt reduction to voluntarily do so, without raising taxes on entrepreneurs and job creators."
 

The U.S national debt currently stands at a staggering $16 trillion. It will be interesting to learn how the Oracle of Omaha will respond to this development. After all, the Act is under his own inspiration.