Buffett Questions Tax Gaps
Posted on Jun 27, 2007
The vast economic rift between the top and bottom tax brackets is a major cause for concern, and it’s not just those at the lower end of the income spectrum who are paying attention.
Warren E. Buffett was his usual folksy self Tuesday night at a fundraiser for Sen. Hillary Rodham Clinton (D-N.Y.) as he slammed a system that allows the very rich to pay taxes at a lower rate than the middle class.
Buffett cited himself, the third-richest person in the world, as an example. Last year, Buffett said, he was taxed at 17.7 percent on his taxable income of more than $46 million. His receptionist was taxed at about 30 percent.
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