Obama Proposes Tax for Millionaires

Warren Buffett

The United States president, Barack Obama, pretends to set a tax for people that earn a salary of one million dollars or more. The proposal for the tax will be made this Monday, the vision of Obama is that the wealthy pay a percentage of the tax that the medium class families pay.

Obama’s proposal is not a new tax, but a raise of the percentage that the people present to the treasury. On Monday Obama will present the Congress recommendations to reduce their deficit. The initiative is known as “Buffett standard” in honor of the multimillionaire Warren Buffett.

Such proposal contains a package of recommendations that the president will present to the Congress whose focus is to save up to three billion dollars annually. (AV)