That’s what Warren Buffet thinks.
“I think that people at the high end, people like myself, should be paying a lot more in taxes. We have it better than we’ve ever had it,” he told ABC’s Christiane Amanpour in a clip played on “This Week” on Sunday.
And Buffet is not the only billionaire who argues for higher taxes.
UPDATE to answer the comment.
It makes perfect sense that Buffet does not voluntarily pay more taxes. He would likely be the only billionaire in America sending in his fair share, although there are many who acknowledge they should pay more. His money would have little impact that way so he donates to charities instead. If the tax rate were raised on ALL billionaires and millionaires, then the impact would be huge and you and I could keep more of our income.
…should drive the speed limit.
…should think things through and learn so I make better decisions.
…should tell the truth and be honest.
…should share more and be kinder to others, spend more time with loved ones.
…should clean the house and stop being lazy.
…should spend less on shoes and vanity.
…should remain faithful to my spouse.
…the wealthiest Americans succeeded in repealing an estate or inheritance tax levied only on several thousand of the richest families in America by dubbing it a death tax, whose repeal generated popular support, in the wake of millions of dollars spent to shape public opinion. (This amazing feat is largely a result of the belief that every American has a chance to become rich, despite all the evidence to the contrary. As Bill Moyers said recently, the surest way to become rich is to choose your parents well. So even poor people supported the repeal in the fanciful belief that they might one day need this tax relief.) LINK
Government, regulation and sharing–Christian concept–should not be dirty words. You should think about who made them dirty words and why. We have allowed our government to become our enemy but we can and must change that.
About Sharon Wilson
Sharon Wilson is considered a leading citizen expert on the impacts of shale oil and gas extraction. She is the go-to person whether it’s top EPA officials from D.C., national and international news networks, or residents facing the shock of eminent domain and the devastating environmental effects of natural gas development in their backyards.
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Tim Ruggiero says
This is what I've never understood-why people like Buffet think they should be paying more taxes, or support increases in minimum wages, but do nothing about it. Buffet could send in more taxes if he wanted to, there's nothing stopping him. My own emplyer fully supports increases in the Minimum Wage, yet he won't voluntarily pay people more. What am I missing?
Many people–not just gas drillers–won't do the right thing unless it is mandated. That should be obvious, by now. Doing the right thing is harder and often costs more. This is why we need more not less regulation.
Should is our favorite word.
…should loose weight.
…should eat healthier.
…should treat people more fairly.
…should spend less on shoes.
…should spend more time with my loved one.
…should cuss less.
I can perfectly understand why Buffet doesn't voluntarily send in more taxes. He might be the only person doing so and it would have little impact. But, if all the highly wealthy people paid more taxes, then you and I could pay a little less. Instead, he gives his money to charity where he knows it will have an impact.
What I don't understand is why your employer won't pay his employees fairly. That would have a positive impact on many people and he would get better, more loyal employees as a result. (Maybe the shareholders won't allow salary increases.)
Costco pays their employees quite well. A grocery checker with the same longevity as I have at UNT makes $10,000 more per year than I do. They have great benefits too. As a result, there are almost never any openings at Costco (I've checked many times) and the employees love working there. I love shopping there because the employees are happy and helpful.
Regulation, taxes and government should not be dirty words. We have allowed our government to become something that serves corporate interests instead of our interest. We have the power to reshape our government but we need to hurry because it's almost too late.
Sharing should not be a dirty word either. It's a Christian concept.
Estate taxes is another area where it's ridiculous to waive taxes. When Paris Hilton's parents die she will receive billions that will become her INCOME that she DID NOT WORK FOR and on which she will pay no taxes allowing her family to amass even more wealth. Estate taxes have nothing to do with family farms and everything to do with a propaganda campaign waged by the 16 wealthiest families in America.
Happy day where we practice gluttony and forget about thankfulness.
Easy Sharon you are going to piss some people off.
Especialy those who believe in "trickle down economic".
Even Warren Buffet said if you give rich people more money we do not reinvest it in our business we buy jets, vacation home in foreign countries, or put it in banks in foreign lands Remember when the minimum wage was raised from $5.25 to $7.25 the Conservative battle cry was it was going to drive business into the ground. Now the working poor make $1160 divided by 4 = $290 a week (minus taxes). Hell, we know people who spend that much money on just hair and nail care.
Let's not forget also a wage above the poverty level or health care is the right of some but not all.
Christian concept is only important for some people if they can make sure other people can see them being "Christianly"
This country is doomed unless we elect a more altruistic group of leaders instead of these pathetic people who are more concerned with the party line than providing basic human needs for their constituents.