If you want to know about how to build wealth and grow the economy who would you take advice from? Political ideologues llike Paul Ryan and Michelle Bachmann or one of the most successful investors of the past century, Warren Buffet?
Buffett has frequently spoken out against Republican tax policy over the past decade, particularly payroll and estate taxes. In an op-ed today in the New York Times Buffet lashes out against the idea that the wealthy won't invest if they have pay taxes on their winnings.
Buffett acknowledges that despite paying nearly $7 million in taxes in 2010, it was not nearly enough. His tax payments amounted to just 17.4 percent of his taxable income at the same time that the 20 people that work in his office paid out an average of 36 percent of their income. Buffett calls for an immediate tax increase on all incomes over $1 million and an even larger increase on incomes over $10 million.
This country would be a lot better off we listen Warren Buffett right now than anyone in the GOP leadership.
Stop Coddling the Super-Rich
We mega-rich should not continue to get extraordinary tax breaks while most Americans struggle to make ends meet.
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