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It's not just that - even when we're talking Warren Buffett here, the scale of the US govt is totally different. Buffett's entire fortune ($50B according to Wik

It's not just that - even when we're talking Warren Buffett here, the scale of the US govt is totally different. Buffett's entire fortune ($50B according to Wikipedia) would only cover a few weeks' worth of borrowing and then we're right back where we started only Warren Buffett has no more fortune. It's silly to say we should expect him to do that. What he's saying by advocating tax raises is "I will pay more if I know that everyone else will also pay more." He's not interested in paying $XM to reduce the debt by $XM, but he would happily pay a personal cost of $XM if it meant reducing the debt by $XB. (This is called "collective action," and it's also Groupon's business model.)

redthrowaway 15y ago
>What he's saying by advocating tax raises is "I will pay more if I know that everyone else will also pay more." No he isn't. He's saying precisely the opposite: "I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax...But for those making more than $1 million...I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more...I would suggest an additional increase in rate."
- ScottBurson 15y ago
  He's willing to pay more if everyone else at his income level pays more.
- bluedanieru 15y ago
  Don't be obtuse, the parent (and Warren Buffet) clearly meant others in his income bracket.
orblivion 15y ago
Why not? It's not like it's all or nothing. The taxes paid by the others today will be at least somewhat useful to the federal government before the billionaires pay their "fair share". If Buffet pitches in, it's just that much better for the federal government, and an example to set for his friends.

redthrowaway 15y ago

>What he's saying by advocating tax raises is "I will pay more if I know that everyone else will also pay more." No he isn't. He's saying precisely the opposite: "I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax...But for those making more than $1 million...I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more...I would suggest an additional increase in rate."

ScottBurson 15y ago
He's willing to pay more if everyone else at his income level pays more.
bluedanieru 15y ago
Don't be obtuse, the parent (and Warren Buffet) clearly meant others in his income bracket.

orblivion 15y ago

Why not? It's not like it's all or nothing. The taxes paid by the others today will be at least somewhat useful to the federal government before the billionaires pay their "fair share". If Buffet pitches in, it's just that much better for the federal government, and an example to set for his friends.