Warren Buffett is ready to call Republicans’ tax bluff. Last fall, Senator Mitch McConnell said that if Buffett was feeling “guilty” about paying too little in taxes, he should “send in a check.” The jab was in response to Buffett’s August 2011 New York Times op-ed, which made hay of the fact that our tax system is so unbalanced that Buffett (worth about $45 billion) pays a lower tax rate than his secretary.
Senator John Thune promptly introduced the “Buffett Rule Act,” an option on tax forms that would allow the rich to donate more in taxes to help pay down the national debt. It was, as Buffett told me for this week’s TIME cover story, “A tax policy only a Republican could come up with.”
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I think it is so awesome when someone as wealthy as Buffet donate BILLIONS to charities. Soooo awesome.
ReplyDeleteThere is a significant difference between taxing earned income and taxing wealth. Buffett is not suggesting taxing his wealth which is the bulk of money for people like him. He does not "earn " income and is not subject to the taxes he is trying to shove down peoples throat. THere is a hugh difference and he is smoewhat hypicritical
ReplyDeleteI do salute his contributions to organizations however