What He Said . . .

Hey, if Buffet says we should raise his taxes, who am I to disagree.

http://www.reuters.com/article/2011/08/15/us-buffett-tax-idUSTRE77E13V20110815?feedType=RSS&feedName=topNews&rpc=71

Note, he focuses on the super rich and not just those over $250,000. While it will raise less money, raising some is better than raising none, and given the vast disparity in wealth these days, with the squeeze on the middle-class, I suspect you would still get a lot of money raising taxes on those making over $1 million a year or companies making over $5 million a year. I am not saying go over board but when billionaires are paying just 17% I think getting them up to paying what the rest of us are paying makes some sense. Seriously, Buffet paying perhaps 30% to 35% might be fair, and he agrees. Certainly this move would be much tougher for the Tea Party to oppose and justify and it would erode a lot of the Republican base.

Disclosures: None.