In a New York Times op-ed today (August 15, 2011), billionaire investor Warren Buffet, 80, writes that he and his mega-rich friends should pay more taxes -- a very unusual desire and a Christlike attribute for an extremely wealthy person to recommend in our society.
Buffet -- one of the world's three richest men -- writes, "My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice."
In the op-ed, Buffet calls on Congress to immediately raise the tax rate for households with taxable incomes of more than $1 million, with an additional hike for those making $10 million or more.
"While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks," Buffet writes.
Buffet revealed that his last federal income tax bill was $6,938,744, which was only 17.4 percent of his taxable income.
President Barack Obama -- who has called for significant tax increases for the rich, as well as spending cuts to close the U.S. deficit -- today said he agrees with Buffet's recommendation to tax the rich more.