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Billionaire Warren Buffett: Mega-rich in US "coddled" by government

08-17-2011 09:55 BJT

America's most famous billionaire investor, Warren E. Buffett, argued in the New York Times opinion piece published Monday that the mega-rich in the US are "coddled" by the tax code and billionaires like him should pay more taxes.

Last year, the 80-year-old paid $6,938,744 in taxes but reveals, "What I paid was only 17.4% of my taxable income." He adds, "If you earn money from a job, your percentage will surely exceed mine – most likely by a lot."

Last year, the 80-year-old paid $6,938,744 in
taxes.

The country's wealthiest citizens pay considerably less taxes, as a percentage of income, than the poor and middle class, Buffett wrote.

He said, "It's time for our government to get serious about shared sacrifice."

The US President Barack Obama has cited Buffett's viewpoint to argue that the government needs more revenues to balance the budget, as he launched a three-day bus tour through the Midwest.

Editor:Shi Jierui |Source: CNTV.CN

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