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...He said that 40 million jobs were created between 1980 and 2000, when the tax rate for the rich was higher than it is now. "You know what's happened since then: lower tax rates and far lower job creation," he wrote.
Buffett proposed that Congress impose a higher tax rate on millionaires, and an even higher tax rate on those making at least $10 million per year.
"My friends and I have been coddled long enough by a billionaire-friendly Congress," he wrote. "It's time for our government to get serious about shared sacrifice."
I like this, but maybe I am biased? I'll let you know when my income hits the million dollar mark.
You can read the entire piece, straight from the oracle's mouth, here.
You can read the entire piece, straight from the oracle's mouth, here.
5 comments:
I decided last week that I will no longer hide, speak quietly or feel guilty about my liberal beliefs. Thank you for being public with yours; I'm sure many in your communities (church, school, home) will disagree with you.
For those who will be quick to accuse Buffett of being a Communist/Socialist, I think the entire point of his Op-Ed is to get our country out of this hole.
A stronger economy benefits all, and usually the wealthy more than the rest of us.
I didn't think this I was being liberal... but then, I guess it takes one to know one. : )
I consider Warren Buffett and his outrageous success as capitalism at work. But, I guess we'll see what other comments I get!
I meant that your political posts, in general, lean in my direction.
But I do think Buffett's Op-Ed piece is being regarded as pretty Liberal.
I haven't read his piece, but I agree with him. I would like to see those taxes being used to create jobs rather than keep those in entitlement programs from going out to work...I am willing to pay more in taxes if it means that others are responsible to earn an income and also contribute their share of taxes. I'm just tired of paying taxes to fund programs that my children will never benefit from. Education and job creation are useful in my eyes; unemployment and welfare are not so useful. And that does not make me a person without compassion; I just feel that now is the time to incite others to be creative in earning and becoming skilled so they can earn, rather than in enabling to allow others not to contribute....I sure like our church welfare system, and I also like the whole tithing concept; everybody pays a portion. EVERYBODY.
I'm a big fan of Warren Buffet, and I loved this article. I think he's right on.
I don't think it has anything to do with liberal or conservative, it's just him being his practical and logical self: our unique society afforded some people the opportunity to become insanely rich, and therefore they're obliged to give a little more back to the society that helped them.
FWIW, I also think everyone should pay into the system, since we all get something out of it -- even if it's just 1 percent, regardless of income level.
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