Quantcast

Warren Buffett calls for higher taxes on wealthy Americans

By Business Insider
Monday, August 15, 2011 8:11 EDT
google plus icon
warrenbuffet-afp
 
  • Print Friendly and PDF
  • Email this page

Warren Buffett wants to pay more taxes.

In an op-ed in the New York Times Monday, the Oracle of Omaha calls on Congress to ask him and other “super-rich” Americans to contribute more to the federal government.

Buffett called for the immediate increase in the tax rate for those making more than $1 million, and for a new, higher tax bracket for those making more than $10 million — including dividends and capital gains.

“And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000,” he writes. “You know what’s happened since then: lower tax rates and far lower job creation.”

Buffett also called on the so-called “Super Committee” of 12 members of congress tasked with $1.5 trillion in deficit cuts to exceed that, in order to restore the nation’s confidence in Washington.

He said Congress seems bent on protecting him and other wealth Americans from taxes as if “we were spotted owls or some other endangered species,” but added they can do their part.

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

Read the full op-ed here.

####

You might also like:

  • Politics In 60 Seconds
  • Rick Perry’s Campaign Already Has Bachmann, Romney Looking Over Their Shoulders
  • Warren Buffett: The Super-Rich Have Been Coddled Long Enough By A Billionaire-Friendly Congress
  • Perry Releases First Presidential Campaign Ad
  • A Devastating Look At Obama’s Economic Policy Strategy
  • Business Insider
    Business Insider
    Business Insider is a new business site with deep financial, media, tech, and other industry verticals. The flagship vertical, Silicon Alley Insider, launched on July 19, 2007, led by DoubleClick founders Dwight Merriman and Kevin Ryan and former top-ranked Wall Street analyst Henry Blodget. Business Insider is dedicated to aggregating, reporting, and analyzing the top news stories across the web and delivering them to you at rapid-fire pace.
     
     
     
     
    By commenting, you agree to our terms of service
    and to abide by our commenting policy.
     
    Google+