Warren Buffett: A Minimum Tax for the WealthyQuicklink submitted by Sheila Samples Permalink
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|In recent years, my gang has been leaving the middle class in the dust. A huge tail wind from tax cuts has pushed us along. In 1992, the tax paid by the 400 highest incomes in the United States (a different universe from the Forbes list) averaged 26.4 percent of adjusted gross income. In 2009, the most recent year reported, the rate was 19.9 percent. It's nice to have friends in high places. We need Congress, right now, to enact a minimum tax on high incomes. I would suggest 30 percent of taxable income between $1 million and $10 million, and 35 percent on amounts above that.|
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