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NEW YORK (AP) ― Billionaire investor Warren Buffett is calling on the “mega-rich” to pay more in taxes.
Buffett said Monday in a New York Times opinion piece that he would immediately raise rates on households with taxable income of more than $1 million, and he would add an additional increase for those making $10 million or more.
He also recommends that the 12 members of Congress charged with devising a deficit-cutting plan leave rates for 99.7 percent of U.S. taxpayers unchanged.
“My friends and I have been coddled long enough by a billionaire-friendly Congress,” Buffett wrote. “It’s time for our government to get serious about shared sacrifice.”
Buffett, who is chairman and CEO of Omaha-based Berkshire Hathaway, has been calling for higher taxes on the super wealthy for several years. He has said the tax system has contributed to the growing gap between rich and poor.
Buffett said Monday in a New York Times opinion piece that he would immediately raise rates on households with taxable income of more than $1 million, and he would add an additional increase for those making $10 million or more.
He also recommends that the 12 members of Congress charged with devising a deficit-cutting plan leave rates for 99.7 percent of U.S. taxpayers unchanged.
“My friends and I have been coddled long enough by a billionaire-friendly Congress,” Buffett wrote. “It’s time for our government to get serious about shared sacrifice.”
Buffett, who is chairman and CEO of Omaha-based Berkshire Hathaway, has been calling for higher taxes on the super wealthy for several years. He has said the tax system has contributed to the growing gap between rich and poor.
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