Hillary Clinton Wants a ‘Buffett Rule’

December 16, 2015, 6:32 PM UTC

Hillary Clinton, the likely nominee for President from the Democratic party and former Secretary of State, is joining her former boss Barack Obama in advocating for a tax law proposed by Berkshire Hathaway (BRK-A) CEO Warren Buffett, reports MarketWatch.

The so-called Buffett Rule is pretty simple: any household in the U.S. making more than $1 million per year must pay at least 30% of their income in taxes. Buffett has frequently noted that due to loopholes and other deductions, he pays a smaller marginal tax rate than his secretary.

Buffett has been a big-time supporter of Obama and is now helping out Clinton. The two will appear together Wednesday in Buffett’s hometown of Omaha, Neb.

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