Warren Buffett Calls for 90% Billionaire Wealth Tax
At this year's Berkshire Hathaway annual meeting, Warren Buffett, the billionaire CEO and the world's 2nd richest man defended his call for higher taxes: "When Charlie [Munger, billionaire Vice-Chairman of Berkshire Hathaway] and I took this job, we did not decide to put our citizenship in a blind trust." No, indeed. They put their assets in trusts, so they can forever avoid taxes while preserving their own tax preferred status. Paying taxes is for suckers. But all that changed at this year's annual meeting. Buffett insists that even billionaires should pay a minimum tax. If necessary--and in his case it is--the tax should be retroactive.
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