Subscribe
The Daily Grind Video
CLOSE

Warren Buffett, the most respected investor and chief executive of Berkshire Hathaway, wants Congress to increase taxes for wealthier Americans.

Warren Buffett, billionaire and the most respected investor and chief executive of Berkshire Hathaway, wants Congress to increase taxes for wealthier Americans.

He wrote an opinion editorial for The New York Times commenting that, “While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.”

Congress has asked for a “shared sacrifice,” but seems to have left out the top 0.3 percent income earners in the United States.

Buffett said that he only paid 17.4 percent of his taxable income last year. This is a lower percentage than what was actually paid by any of the other 20 people that work in his office.

Politicians passed the legislation to raise the debt ceiling on August 2nd.

Last week, Congress launched a bipartisan deficit reduction panel that intends to cut spending, decrease the deficit and increase the amount the U.S. Treasury can borrow.

PHOTOS: U.S. Senate Passed Debt Ceiling Bill

Buffett realized that his personal taxes, as a percent of his income, have decreased in the past decade. He comments that he pays a much lower tax rate than his secretary and finds it ridiculous.

Fed up with the way our economy has become, Buffett hopes that Congress makes the right decision to fix the situtation.

He ends his editorial with, “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.”

What do you think about Warren Buffett’s bold statements?