Within its plan to reduce the deficit, Barack Obama plans to include a new tax on large fortunes. On Monday September 19, President of the United States, Barack Obama will be presented before a special committee of Congress a plan to reduce the deficit. Among the measures it intends to propose, is a tax for taxpayers earning more than a million dollars a year(about 725,000 euros).

The “tax Buffet”:

As it informed bias of their account of Twitter the Director of Communications of the White House, they Give Pfeiffer, it would show an alternative minimum tax through which citizens would be attempted with this level of income taxed at least at the same rate as those with average incomes.

Currently the name of this new rate alludes to the U.S. billionaire Warren E. Buffet, who made a request to the owners of the great fortunes of the U.S.. To make a united effort, given the fact that taxes used to pay a smaller share than their fellow citizens with lower purchasing power, because in their country the benefits of investments are taxed at a lower rate than wages.

Further details of this measure:

This initiative will be proposed before a special congressional committee that is composed of members of the Democratic and Republican parties and which will deal with measures needed to reduce the deficit through savings from a total of three billion dollars (about 2.1 billion euros) over the next ten years.

Although hardly have stood more facts about this new tax or their amount, they are estimated to affect about three percent of U.S. taxpayers. UU., sources said the democratic party newspaper New York Times.

The Republican opposition:

The Republican Party has already indicated its intention to oppose this initiative and indeed the chairman of the House of Representatives, John Bohen, said that this “is not a viable option for the bipartisan”. However, the New York Times considers it possible that this initiative could be used as a measure designed to pressure Republicans to accept tax increases for the upper classes.

The time pressures:

The next one 31 of December is the first date limit for the reduction of the deficit and at this time, the committee, formed by six members of the Republican Party and other six of the Democratic Party, must have reached an agreement that permit to implement a series of measures that serve to lower the deficit in at least 1.2 billion dollars (some 870,000 million euro), saving thus a total of 1.5 Billion dollars (slightly more than a trillion euro).

For all this lack of time, it is necessary that the United States reached an agreement that serves to reduce the deficit given that the economic crisis is also still a huge problem in this country.

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