Amid tough economic times and a soaring national debt, President Barack Obama is said to be proposing, this week, a new tax plan that will make Americaâ€™s wealthiest citizens pay the same share of their income that middle-class families do.
And, despite the opposition it has seen so far, we here at the Collegian, agree with this new plan called the â€œBuffett Rule,â€ named after Warren E. Buffett who left his post on the Washington Post Co. board of directors because he was taxed at a lower rate than his employees.
If approved by Congress, this rewrite to the U.S. tax code would affect the top 0.3 percent of taxpayers whose earnings come, in part, from lower rates on capital gains and dividends, according to an article in the Washington Post.
And despite some conservative Republicans calling the increase â€œclass warfareâ€ that will do little to reduce the debt, we must all remember that, as Americans, we should all do our part to help see ourselves out of these trying times. If you can afford to be a part of change for the greater good, you should be.
So, as those multi-millionaires scoff at this new tax plan from the sunning decks of their private yachts, we ask them to think of the Jones family in Indiana, clipping coupons, living paycheck to paycheck and doing the best they can.
They may not, or ever, know them. But weâ€™re all in this hole together, and weâ€™ll need everyoneâ€™s support to start digging ourselves out.