Billionaire Buffett opens books in call for super-rich tax
The 81-year-old said he earned almost $63 million (£40m) last year, yet he paid a rate of just 17.4 per cent on taxable earnings of $39.8m. The Berkshire Hathaway chairman and chief executive is spearheading a drive to get Congress to impose a higher rate of tax America’s wealthiest.
Mr Buffett – said to be worth $39bn – challenged Washington to tax him more. “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,” he said
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Hide AdThe billionaire investor noted that he paid the lowest percentage of tax of anyone in his office.
President Barack Obama is pushing for a “Buffett rule” under which the super-rich would be expected to pay at least as much tax as the lowest earners did.
A congressional committee has been asked to find a way to reduce a national debt of more than $14 trillion.