| HappySqurriel said: Warren Buffet pays so little tax because he can afford a team of accountants to ensure that he pays as little tax as possible, and increasing tax rates will likely result in this team of accountants finding a way to avoid paying the bulk of the increase; often by shifting his earnings to lower taxed regions around the world. On top of that, Buffet's call for higher taxes will likely result in higher income taxes and Warren Buffet (and most billionares) doesn't earn income; and this will mostly result in higher taxes for successful small businesses which drive most economic growth and hiring, while leaving billionares completely free of increased taxation. |
He's suggesting higher taxes on capital gains as well, where the billionaires WILL get hit.
His suggestion doesn't seem to be "add one new rule on the books" but rather "change taxes so the wealthy pay more." This would include eliminating loopholes, I think.
