Warren Buffett, one of the wealthiest men in the world, believes that we should stop giving tax breaks to the “super-rich.” He writes: “Our leaders have asked for ‘shared sacrifice.’ But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.”
Buffet paid close to $7 million in federal taxes last year, which was 17.4% of his taxable income. When he surveyed the other 20 people who work in his office, tax burdens ranged from 33% to 41%.
My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.
Something to think about this morning.