Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent....The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes.This country has been reduced to one word: greed. How else to explain the utter silence on this matter? Despite the fact Buffett generously writes, "I know well many of the mega-rich and, by and large, they are very decent people....Most wouldn’t mind being told to pay more in taxes," why is he the only super-wealthy person to regularly speak out about the unfairness in the tax code? Where are all the other "decent" folk of which he speaks, who seemingly hide in the shadows and avoid making such an impassioned plea to raise taxes on their brethren?
Reminder: there were many super-wealthy people on the Titanic.... Rich, poor, there's no difference at the bottom of the ocean.