Billionaire investor Warren Buffett appeared on CNBC today, where, of course, he was asked about the Obama administration’s “Buffett rule,” which stipulates that millionaires should not pay a lower tax rate than middle-class families. Buffett said he is happy to have lent his name to the administration’s push:
Q: Are you happy you said yes [to having your name on the Buffett rule]?
BUFFETT: Sure, I wrote about it.
Q: Are you happy with the way it’s been described? Is the program that the White House has presented — a million dollars and over — your program?
BUFFETT: Well, the precise program, I don’t know what their program will be. My program will be on the very high incomes that are taxed very low. Not just high incomes, some guy making $50 million a year playing baseball, his taxes won’t change. Make $50 million a year appearing on television, his income won’t change.
But if they make a lot of money and they pay a very low tax rate, like me, it would be changed by a minimum tax that would only bring them up to what other people pa
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Buffett also said he is “supportive of the action” Obama is trying to take to put people back to work. So for those trying to turn this into a “Buffett v. Obama” story, as Mitt Romney would say, “nice try.”
Full Article:
http://thinkprogress.org/economy/201...-buffett-rule/
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