(Source: The Wichita Eagle) – Whenever the leadership class feels nervous, you can count on some of them to offer the less-moneyed masses a bone to demonstrate they care. Warren Buffett says his idea of “shared sacrifice” is higher taxes on the superrich. Only for him, this wouldn’t cost much.In a New York Times commentary last week, the Berkshire Hathaway chief executive officer said his federal tax bill for 2010 was about $6.9 million, just 17 percent of his taxable income. The other 20 people in his office paid an average rate of 36 percent, he said. If only he had been taxed another $7 million or so, that would bring him closer to being even-steven with the rest of us, Buffett seemed to suggest.

It’s a nice gesture, perhaps, although for a guy whose stake in Berkshire is valued at $37 billion, this wouldn’t be much to give up.

Source: The Wichita Eagle

Posted on Tue, Aug. 30, 2011

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