I agree with Warren Buffett…
Stop coddling the super-rich: Buffett
I agree with Warren Buffett and I agree with David Cameron; but that’s another story! Warren Buffet actually wants to see tax increases for the super-rich in the United States; he is rich and a patriot, putting his country first. I think the UK can learn something from this. How about tax increases for everyone earning over £100,000 a year; at least temporarily until the deficit is paid off.
“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,” The 80-year-old wrote in an opinion article in The New York Times.
Buffett, one of the world’s richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744.
“That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income – and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent,” he said.
It is the fact that people who can’t afford it are ‘sharing the sacrifice’ in the UK and that makes people angry. It may even have contributed to the riots. It wouldn’t hurt the rich or the economy for the tax burden of the rich to be more of a burden for the foreseeable future. If the less well off can be thrifty and frugal for a while, why can’t the rich? I am also thinking about those bosses like Bob Diamond, CEO of Barclay’s on his 6 figure salary and 7 figure bonus. Many chief executives of councils around the country earn 6 figure salaries too, like the chief executive of Richmond upon Thames council. Isn’t it fair that they should help with the countries debt? They after all help to spend a lot of public money!
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