Aug 152011

Billionaire Warren Buffett Tells Congress To Raise Taxes On Wealthy – ABC News.

Warren Buffett, one of the richest men in the country, wants to pay more taxes and thinks his super-rich friends should too.

Buffett, who is estimated to be worth more than $47 billion, called on Congress to commit to “shared sacrifice” and raise taxes on people earning more than $1 million. Buffett said the rich are “coddled” by Congress “as if we were spotted owls or some other endangered species.”

“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 Sunday New York Times Op-ed.

  One Response to “August 14, 2011 — Billionaire Warren Buffett Tells Congress To Raise Taxes On Wealthy – ABC News”

  1. Do you really bleieve he’s serious? Really? For real?Ha, no! I know Obama is full of shit, the math doesn’t add up, and the political reality makes the Buffet Rule impossible.But we weren’t arguing any of that. We were arguing what the Buffet Rule as a proposal is–and that proposal, as proposed by Obama, is a 30% effective rate on those making over $1 million. Your widow-making-$999,999 + $1000 hypothetical is a perfect illustration of why it is an absurd proposal, but it is a question better asked of Obama as he’s the one making the proposal.Where did I, in any way, suggest that I bleieved or endorsed this stupid proposal? I didn’t. You’re building straw men and tearing them up. My one and only point was that Obama’s proposed Buffet Rule is a 30% effective rate on those making $1 million or more, which I made in response to your dubious assertion that the proposal is a marginal rate increase. It’s not. It’s never been proposed as such. Drawing illustrations about capital gains-investing widows shows the absurdity of the proposal, but it does NOTHING to change the blatant fact that Obama’s proposal is for an EFFECTIVE rate.You can call me names all you want, but it won’t change the fact that your original point was ignorant and I corrected it. Drag in all the widows you want.

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