Billionaire Warren Buffett: Tax me, please!
Billionaire investor Warren Buffett frequently argues that the rich aren’t paying their fair share of taxes – an argument frequently repeated by President Barack Obama. Buffett set out to prove his point this week in a letter to Rep. Tim Huelskamp (R-Kansas)obtained by CNN. In it, the chairman of Berkshire Hathaway discloses he paid only $15,300 in payroll taxes last year and less than $7 million to Uncle Sam on taxable income of $39,814,784, CNN reports. Buffett’s adjusted gross income was $62,855,038 last year. A big chunk of Buffett’s income came from investments, which are taxed at a lower rate than wages, and...
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