• The Buffett Rule: What Does It Mean for You?

    Barack Obama and Warren Buffett

    Ah, the "Buffett Rule." Presumably it means something about taxes.* But depending on who you are, the Buffett Rule can mean very different things. If you're poor, you might like that it would raise taxes on people with salaries over $1 million. If you're rich, you might want to keep all that money, because MINE! MINE!!

    Whoever you are, here's a list of ways you personally would be affected by the Buffett Rule. Get ready…

    1. If you're a single mom: Are you earning less than a million dollars every year? You'll be fine.

    2. If you're a single mom earning over a million dollars every year: Wow, awesome! You'll also be fine.

    3. If you're Mitt Romney: Let's put it this way. Would you want to start paying twice as much as you are now?

    4. If you're Warren Buffett's secretary: You will finally pay a lower tax rate than your boss, which will hopefully take the sting out of them not naming the idea after you. (Maybe the "Debbie Bosanek Rule" wasn't as catchy?)

    5. If you're in the Tea Party: Better cut the Sixteenth Amendment out of your pocket Constitution. (That's the one that says things like the Buffett Rule are allowed.)

    6. If you're gay: Still can't get married. Sorry.

    7. If you make your living by writing "buffet" puns on the Internet: May these times of plenty never end.

    8. If you're Mitt Romney (again): Just relax about this, okay? You have a lot of money.

    9. If you're Jimmy Buffett: People shouldn't make fun of you so much, and "Cheeseburger in Paradise" is a fun song, I don't care who you are. (But actually, your taxes will probably go up.)

    10. If you're Barack Obama: Please. Stop the class warfare.


    *Wikipedia has confirmed that it does.


    Photo by Bill O'Leary/The Washington Post/Getty Images

    Tags: Barack Obama, Economy, Mitt Romney, Taxes, Warren Buffett


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