In 2011, Warren Buffett famously pronounced that he paid only 17.4 percent of his taxable income in federal income taxes, a lower percentage than any of his 20 employees. He proposed that federal tax rates be raised for taxpayers making more than $1 million.
Legislation called The Buffett Rule was introduced to address that, but it never became a law.
Most Helpful Guy
First there is not such thing objectively as 'fair'. Second Warren Buffet is an investor. He has already paid taxes on the money he invests. Do you think he should have to pay taxes on it again and again every time his investment acumen increases it? If I earn 100$ and I pay tax on it and then use it to bet on a horse and win $1,000 should I have to pay tax again?
Taxes don't have anything to do with fairness anyway and taking them from one person or another makes very little difference in the overall scheme of things. If you tax rich people more they will just cause the price of everything to rise so consumers will still pay the tax. It is all political theater to distract you from the real problem, which is government wasting money and resources.2
Most Helpful Girl
Everyone should pay the same tax percentage but as far as I know the billionaires are paying 35%...0