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Warren Buffett: Please, Tax Me!

Warren Buffett: Please, Tax Me!

 

It’s not often that billionaire investor Warren Buffett has to beg for anything.  But he is.

He’s begging Congress to raise his taxes.

Via Politico:

“While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks,” [Buffett wrote in a New York Times Op-Ed].

“These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.”

Buffett, who has a net worth of $80 billion, suggested that any person with a taxable income of over $1 million have their tax rate raised, and anyone with more the $10 million a year in taxable income have it raised even higher, pointing out that due to payroll taxes, middle class earners will pay as much as 40 percent of their income in taxes, whereas the rich tend to pay 20 percent or less.

“My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.”

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Photo credit: Pete Sousa

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42 comments

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7:28AM PDT on Aug 21, 2011

CL wrote "I am glad Mr. Obama has someone with comun sense like Mr. Buffett, I just wish Mr. Obama would grow a spine and do what's best for the country it is broken and needs to be fixed."

I think that your President Obama has plenty of "comun" sense. Do people like you actually pay any attention whatsoever to what is happening with government in your country?" The D. party (for the most part) has been attempting to raise taxes on the wealthy for how long now? Always blocked by the R. party with the majority in Congress. If you choose to vote in a majority of R. then this is what you get...


3:10AM PDT on Aug 21, 2011

Dear Mr. Buffet,

Simply stop taking all those deductions congress keeps giving you. You tax bill will rise, I promise. While you're at it, could you make sure the corporate person known as Berkshire Hathaway also pay it's taxes? I'm told you may have some influence with them.

1:53PM PDT on Aug 19, 2011

hey Warren, kiss my ass!

9:05AM PDT on Aug 18, 2011

Cutting spending on, so called, entitlements is ineffective for addressing the deficit. Cutting programs that support the low and middle class will further strain both who don’t even receive lower prices as a result of the U.S. job losses and create a disconnect that will end in another financial collapse. The justification for attacking government benefits as opposed to raising taxes is the creation of jobs. But where?

Corporations have over-powered our government which now believes that out-sourcing and off-shoring of U.S. jobs is inevitable and necessary with expectations that the middle class should fall on their swords. It is the underlying cause of the financial collapse and borders on national security with the loss of our middle class tax base. Yet, this nation does nothing, not even demand it be restricted by whatever method. International businesses are doing the UN-AMERICAN activity of destroying U.S. salaries, U.S. businesses that hire in the U.S., and as an end result, destroying the U.S. marketplace while still demanding BUSINESS ENTITLEMENTS and protections for themselves.

Infrastructure spending and tax breaks will not replace enough jobs to keep up with the hemorrhaging loss of U.S. jobs from out-sourcing over seas. Neither party will do anything about it unless we begin grass roots efforts to protest out-sourcing and off-shoring of U.S. jobs. If nothing is done we will deserve what we get and it will get a lot worse before it gets better

8:04PM PDT on Aug 16, 2011

Better still, he is worth 80 billion so he should run for President of the United States, think of the campaign a tenth of that money could buy. He would be a shoe-in and then could raise the taxes himself for those he suggested should pay more taxes.

8:00PM PDT on Aug 16, 2011

Not just him, but especially him for suggesting it.

7:52PM PDT on Aug 16, 2011

Why just him?

6:57PM PDT on Aug 16, 2011

Then he can just stop hiding his income from the IRS. Or just donate it to one of the places that have had their budget cut to the bone. He was creative enough to make the money, I am sure he can find a reasonable way to use it to help the problem.

3:53PM PDT on Aug 16, 2011

sorry Patrick, it's not possible to pay more taxes than you owe, the IRS will just send it back.

3:02PM PDT on Aug 16, 2011

thanks

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