Buffett Rule

Warren Buffett, one of the world’s richest men suggested that he and his other rich friends should pay more tax, so the President thought it was a good idea and promoted it in the state of the union speech. This idea became known as the Buffett Rule and was widely touted as a way to help us out of the economic mess. Today the government accounting office came out and said that this plan if instituted would bring in 5 billion dollars per year and that is great but it doesn’t do much to offset the deficit which this year is 1,270 billion. Well 1,265 billion does sound better, doesn’t it!