Berkshire Hathway CEO Warren Buffett says the wealthiest of Americans should pay more in taxes. Buffett said in a New York Times op-ed, "Stop Coddling the Super Rich" that the tax code should remain the same for 99.7% of Americans. Buffett says for those who are making more than a million, he says he would raise rates immediately on those who make an excess of a million, including dividends and capital gains. He said for those that make an annual income of $10 million, Buffett suggests an additional increase in rates.
I have a message for Mr. Buffett. I think it's time you get your checkbook and write out a huge check to the federal governement to pay down the debt. Since you're such a believer that the wealthy aren't paying their fair share of taxes then you need to lead the way and voluntarily contribute 30% of your earnings above and beyond what you already pay in taxes. I have a better idea. Why don't you pay 50% of your earnings in taxes? I'm sure you're wealthy enough that it wouldn't hurt you to donate over half your income to taxes. You wouldn't even miss it. Why don't you prove by example what's a fair amount to donate to the government? That wouldn't be fair for you to say the super rich should pay more in taxes unless you're leading the way. You surely wouldn't ask somebody to do something that you wouldn't do, would you? How much do you pay in federal taxes? Are you paying your fair share? Are you finding ways to avoid paying income taxes?
If Warren Buffett truly believes that the wealthy aren't paying their fair share, then he's going to lead the way. I'm more interested in his actions that his rhetoric. If he is so concerned about the national debt, then he's going to contribute all the money he can to wipe out the deficit. It makes sense. Otherwise, he's acting hypocritical, which is common with our politicians in Washington and with Obama's clones.
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