Billionaire Buffett Calls For Higher Taxes

Warren Buffet, the billionaire hedgefund manager, penned an op-ed for Sunday’s edition of the New York Times urging lawmakers to raise taxes on the wealthiest Americans.

“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,” Buffett said. “That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income.”

Added Buffett, “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.”

Read the full op-ed here.