The proof is in the pudding, as the saying goes.*
Buffett said he makes $46 million a year in income and is only taxed at a 17.7 percent rate on his federal income taxes. By contrast, those who work for him, and make considerably less, pay on average about 32.9 percent in taxes – with the highest rate being 39.7 percent.
To emphasize his point, Buffett offered $1 million to the audience member who could show that one of the nation\’s wealthiest individuals pays a higher tax rate than one of their subordinates.
\”I\’m willing to bet anyone in this room $1 million that those rates are less than the secretary has to pay,\” said Buffett.
I like it. I like it a lot. I\’m not saying we should have a flat tax, but it should be a fair tax. Come to think of it, it\’d be nice to look at a government program, especially here in the Cheney Administration, and say \”yeah, you know, that\’s fair\”.
*Actually, the proof of the pudding is in the eating, not to go all tilty at windmills on you or anything.
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