“Stop coddling me, raise my taxes!” ~ Warren Buffett

Via on Aug 15, 2011

“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.”

Those were the words Warren Buffett, the third richest man in the world, wrote in an op-ed for The New York Times yesterday. It’s this type of self sacrifice for the greater good that sets the Berkshire Hathaway CEO apart from his fellow billionaires. In the column, he states:

“Last year my federal tax bill—the income tax I paid, as well as payroll taxes paid by me and on my behalf—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 goes on to suggest ways to rectify the fact that though our leaders talk a lot about shared sacrifice, they seem to forget to ask the insanely rich for their appropriate share.

Already catching flack for the column, Forbes contributor Tim Worstall is skeptical that the Oracle of Omaha did his math correctly, and conservatives at a website called The American Spectator think that if he what he says is true, then the wealthy shouldn’t have to be told to pay more, but they should just do so on their own.

Out of the goodness of their hearts? Yeah, right!

Though “shared sacrifice” hasn’t been a big theme for GOP leaders, this is hardly the first time Buffett has called for change. His letter to Uncle Sam last year, and his rally for “truly major changes in both taxes and outlays” in 2009 haven’t exactly been warmly received either (Big Surprise).

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Agree or disagree, he is at least drawing attention to major flaws in the system. He has the potential here to put this issue into perspective, and his money where his mouth is.

About Jennifer Cusano

Jennifer Cusano, social media aficionado, research connoisseur, and writer du jour, is a Yogi on a path of personal exploration and long overdue healing. Managing Editor for YOGANONYMOUS, Producer for Where Is My Guru, Director of Social Media for YOGASCAPES and TumericALIVE, wife and mother of three, Jenn is really a superhero in disguise—or so she likes to think. In her spare time Jenn likes to read about and search for vampires, so if you happen to know or come across one, please do send them her way. Hit her up on Facebook or Twitter to discuss the various methods of tracking down said vampires. Also she is more than a little uncomfortable writing about herself in the third person, it may just be the hardest thing she's had to do, and that's saying something...

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2 Responses to ““Stop coddling me, raise my taxes!” ~ Warren Buffett”

  1. [...] “Stop coddling me, raise my taxes!” | elephant journal [...]

  2. [...] 2. He and his wife Ann paid an effective tax rate of 13.9% in 2010. They expect to pay a 15.4% rate for 2011. That’s less than Warren Buffett, who famously complained about paying less than his secretary. [...]

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