HireCentrix News Updates
Answering Republican calls for the mega-billionaire to donate money to the US Treasury if he wants to help with deficit reduction, Buffett told Time magazine they should all join hands in the effort.
Billionaire investor Warren Buffett has a challenge for congressional Republicans: For every dollar one donates to the Uncle Sam to help pay down the debt, he will match it. Buffett will even triple every donation sent it by Senate Republican leader Mitch McConnell.
Buffett issued the challenge in an interview with Time magazine in response to the fact that Republicans won't raise taxes for billionaires -- but they've said they'd be happy to accept Buffett's donations.
In a New York Times op-ed last August, Buffett lamented that in 2010, he paid only 17.4 percent of his taxable income to the government -- even though middle class earners in his office paid between 33 percent and 41 percent. Buffett paid a lower rate in part because a significant part of his income came from investments, which are taxed at a lower rate than wages.
Last year, President Obama proposed a tax policy change inspired by the chairman of Berkshire Hathaway Inc. -- dubbed the "Buffett rule" -- to ensure that taxpayers who make over $1 million a year are taxed at the same overall rates as middle class Americans.
Republicans, however, are obstinately opposed to tax the wealthy more, arguing it burdens the people who create jobs. In response to Buffett's complaints about the tax code, McConnell said the billionaire was welcome to "send a check" to the government. South Dakota Republican Sen. John Thune introduced a bill called the "Buffett Rule Act" that would create a line on tax forms so that the rich could donate more than they owed.
Add Your Event for Free | OnlineThursday, 13 December 2012 00:00
Hiring Our Heroes Employment Fairs - Ongoing - | NationwideTuesday, 19 February 2013 00:00
Global Energy Career Expo Aberdeen 2013 | Aberdeen, United KindgomWednesday, 12 June 2013 10:00
Gateway Analytics Network : Business Planning & Analysis 2013 | InterContinental Buckhead Atlanta, 3315 Peachtree Road NE, Atlanta, GA 30326Thursday, 23 May 2013 08:00
Recruiting / HR Jobs
We have 482 guests and no members online
* The Lounge Podcast *
Read More Articles
- 10 speedy ways to ensure recruiters can find you on LinkedIn
- Auditing the use of recruiting firms
- How to Choose Recruiting Software to Ensure OFCCP Compliance
- The Seven Sins of Performance Reviews
- Truth in Endorsement and Advertising Disclosure : FTC's Revised Rules
- Minnesota Lawmakers propose bill to treat ALL marriages as civil unions.
- Storyboard Your Recruiting Script