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.
“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.”
Photo credit: Pete Sousa