Thursday, November 01, 2007

Warren Buffet Says: Rich Should Not Pay Lower Taxes



Multi-billionaire Warren Buffett has been complaining for years that his taxes are too low. Last June, he said at a fundraiser for Hillary Clinton that he was taxed at only 17.7% last year on his $46 million in income, while his secretary paid 30% of her $60,000.
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"The taxation system has tilted toward the rich and away from the middle class in the last 10 years," Buffett, the nation's third richest man, told Brokaw. Buffett said he did an informal survey of federal taxes paid by his own office staff, and the average was 32.9%, compared to his 17.7%.

"There wasn't anybody in the office, from the receptionists on, that paid as low a tax rate," Buffett stated, noting that "I have no tax planning, I don't have an accountant, I don't have tax shelters."


Bless his heart.
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