We mega-rich should not continue to get extraordinary tax breaks while most Americans struggle to make ends meet.
OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.
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. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.
This incredibly honest piece by Warren Buffett made me choke up with emotion. I would love to hear from anyone on this, but particularly those (Bo and Devin, Payne you too) who may disagree. I have an open mind. Bring it.