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In Response to This one’s truly, uh... rich by tammigirl
Buffett does not want to pay more taxes he wants other rich people to pay more taxes. Most his income comes from his corporation. So when he avoids taxes he has more capital gains which are taxed a low rate.I would recommend that the capital gains laws be changed 1) revisit long term vs short term, somewhere along the way this has become clouded and misused. 2) also phase in a higher capital gains rate so that those making more than $250,000 annually with more than $50,000 in capital gains would incrementally pay a higher capital gains rate on short and long term capital gains so eventually people like Warren Buffet with more than $150,000 in capital gain would pay 3x the existing rate..