Warren Buffet story: "Stop Coddling the Super Rich"

by Wendy
(www.retirement-online.com)

I just ran across this story from the New York Times, written on August 14, 2011 by Warren Buffet who says:
"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."

Big Wow!

As a Billionaire, Mr. Buffet advises that he paid 17% of his income to taxes. Granted, this is a huge amount of $6,938,744, almost $7-million, but only 17% of his income.

The normal everyday taxpayers (you), on the other hand, paid an average of 36%. Guess we can afford it where the super-rich cannot?

17% doubled is 34% -- still not equal to the 36% the average American pays. This means a very rich billionaire pays less than half of what an average American pays.

We all know they pay less, dollar for dollar, but to see it in black and white is really quite amazing.

Mr. Buffet wants to pay his fair share!

Want to read Mr. Buffet's own words?

Read his opinion here: Stop Coddling the Super Rich.