Buffett renews argument for millionaire's tax
November 26th, 2012
08:04 AM ET
1 year ago

Buffett renews argument for millionaire's tax

New York (CNNMoney) – Warren Buffett is again arguing for higher taxes on himself and other high-income individuals, calling for an even steeper bite than in the Obama administration's so-called "Buffett Rule."

In an op-ed column in Monday's New York Times, Buffett advocates that taxable income of between $1 million and $10 million should be taxed at a minimum 30% rate, and that income above $10 million should be taxed at 35%.

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Filed under: Warren Buffett
soundoff (8 Responses)
  1. Pippa

    It's a "Yes" from me. That would take away a chunk of "play money" and put it to good use: towards better country's infrastrucure!

    November 26, 2012 08:18 am at 8:18 am |
  2. Steve, New York City

    Bravo, Mr. Buffett.
    People making 250k-500K currently get taxed at 36%, but the super-rich (making above $2 million a year) often pay something closer to 14%. How in the blazes are people making 250K lumped in with the super-rich?
    Yes – the super-wealthy should pay more taxes. At the same time, I also hope that Washington is not so clueless so as to realize that 250K in a big city with a super-high cost of living is not the same as earning 250K in Fargo, Spokane or Pensacola.

    November 26, 2012 08:18 am at 8:18 am |
  3. OTd

    Now come on all of you who'll never see a million let alone 10 together and start repeating the republican talking points about how consolidation of wealth creates jobs, blah blah blah

    November 26, 2012 08:23 am at 8:23 am |
  4. plain&simple

    The time has come in this country to take care of business. Your signing of a pledge,once popular within your party to get you elected,has become a burden around your countries neck. The majority is not asking for a change in tax policy,they have demanded it through proper channels! We are a democracy and the majority has spoken. Listen,find compromise and approval.....It's the way of our system....the American way!!!! This has nothing to do with religion,morals,or freedoms. Paying taxes is a responsibility that comes with living in our great nation so make the adjustments needed now.

    November 26, 2012 08:38 am at 8:38 am |
  5. plain&simple

    Everyone talks about making life better for our grandchildren....so show them how to resolve issues!!! Show them that in a democracy we work together to find solutions. Show them we have a lot to be thankful for to have been born here in a free society that peacefully resolves its problems. Show them when you have more you do more,because you can and It's the right thing to do.....if we show them these things they will be just fine!!

    November 26, 2012 08:48 am at 8:48 am |
  6. Gurgyl

    People love this great man without Greed. God bless him. We love you warren!!!!!!!

    November 26, 2012 08:49 am at 8:49 am |
  7. Ray E. (Georgia)

    The problem with Buffet's wish is the National Debt continues to go up. Here is a much better paln:

    First: Repeal Obama Care. Lock, Stock and Barrel.
    Second: Extend the Bush Tax Cuts for at least 10 more years.
    Third: Begin the process in returning all the Social Programs to the States, during the transrfer process Block Grant the money to run the programs back to the States until the process is complete. Then return most Tax Collecting to the States. The money stays in the states.
    Fourth: Begin the process of returning Social Security to the recipitents. In this modern age people should be able to run their own affairs.

    November 26, 2012 09:19 am at 9:19 am |
  8. jpmichigan

    Mr. Buffet makes a lot of sense. Tax the very wealthy at a very high tax rate and take away those deductons, that help feep their tax rates down. Use the money gained , not to spend, but to pay down the deficit. The middle class has done more than their fair share, and the poor get poorer. The weallthy dictate and rule government in their favor. Those who earn $200 to 250,000 cut their deductions. Those who have $1 to more than 10 million, tax high and take away deductions.

    November 26, 2012 09:28 am at 9:28 am |