We all know who Warren Buffett is (he's only the third richest man in the world) and we all know about his constant push for heavier taxes on the wealthy. The Buffett Rule, proposed by the Obama Administration last year, is a tax law that is meant to raise taxes for millionaires. For those who need a quick and simple primer, here's a rundown of the issue.
Why call it the Buffett Rule?
Last August, billionaire Warren Buffett wrote an op-ed in the New York Times, which called for action to "stop coddling the super-rich" and start taxing them more.