The Least, First

Warren Buffett: $1M for any billionaire who pays higher tax rate than his secretary

with 2 comments

Warren Buffett may have given away more money than anyone who ever lived, suggesting he must be something of wise fellow. Newsweek finds him addressing rich folks at a fundraiser, and taking the tax code to task:

clipped from www.msnbc.msn.com The very rich in America pay taxes at a lower rate than most working people, and, due to a wrinkle in the tax code, private-equity partners enjoy some of the lowest tax rates of all. At a … fund-raiser in New York last month, Warren Buffett, no stranger to wealth, told an audience filled with bankers and real-estate developers the system was, in effect, rigged. “This is what Congress in its wisdom did: the 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter.” Buffett … offered a million dollars to any fellow magnate who could prove he had higher tax rates than his secretary.

---

Tags: Warren+Buffett, income+tax, capital+gains+tax, progressive+tax, tax+code, wealth, Monte Asbury

2 Responses

Subscribe to comments with RSS.

1. I Need His Email Could Any One Give It to me So That He Could Change My life

   

   Pharaoh

   May 13, 2008 at 8:12 pm

   Reply
2. Ya gotta love Buffet. He is always right there calling his on class on their excesses. If only the rest of the rich had his sense of conscience, we would live in a vastly better world…

   The scientifically impossible I do right away
   The spiritually miraculous takes a bit longer

   Monte Says: And he has such an unforgettable way of saying it!

   

   ClapSo

   August 28, 2007 at 2:43 pm

   Reply