Saturday, October 15, 2011

Suggestion to Super Congress from Buffett

Buffett Shares His Income Figures With Supercommittee

The billionaire tells the panel that the numbers may be helpful as they search for more than $1 trillion in deficit savings.    Slate

Occupy Wall Street Spreads Across World as Buffett merely states the obviously obvious. /md

Warren Buffett's 2010 adjusted gross income was $62,855,038 – $39,814,784 of which was taxable – and he paid only $6,938,744 in taxes, good for 17.4 percent of his taxable income.
The billionaire investor who has urged Congress to increase taxes on the ultra-rich revealed those figures to the congressional supercommitte tasked with finding more than $1 trillion in deficit savings over the next decade. Buffett said he’d go one step further and release his full federal tax returns if the panel could convince other wealthy Americans to do the same.
"If you could get other ultra rich Americans to publish their returns along with mine, that would be very useful to the tax dialogue and intelligent reform," Buffett wrote in a letter to Rep. Tim Huelskamp that he forwarded to the deficit-cutting panel, and that was obtained by the Associated Press.

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