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Buffett noted Monday that the mega-rich pay income taxes at a rate of 15 percent on most investment income but practically nothing in payroll taxes. The middle class, meanwhile, typically falls into the 15 percent and 25 percent income tax brackets and is hit with heavy payroll taxes. He said Washington legislators "feel compelled to protect us, much as if we were spotted owls or some other endangered species."
Buffett said he knows many of the mega-rich well, and most wouldn't mind paying more in taxes, especially when so many fellow citizens are suffering. He also said he has yet to see anyone shy away from investments because of tax rates on potential gains, even when rates were much higher in the mid-1970s, 1980s and 1990s.
Buffett calls for more taxes on 'mega-rich' - Omaha.com
Buffett said he knows many of the mega-rich well, and most wouldn't mind paying more in taxes, especially when so many fellow citizens are suffering. He also said he has yet to see anyone shy away from investments because of tax rates on potential gains, even when rates were much higher in the mid-1970s, 1980s and 1990s.
Buffett calls for more taxes on 'mega-rich' - Omaha.com