#wealthy pay higher taxes – @dragoni on Tumblr

dragoni reblogged

Buffett says wealthy Americans are 'definitely undertaxed'

"The wealthy are definitely undertaxed relative to the general population," Buffett, the chairman of Berkshire Hathaway Inc, told CNBC television on Monday. Buffett, 88, spoke after Charlie Munger, his 95-year-old business partner and Berkshire vice chairman, told CNBC earlier this month that

finance.yahoo.com

dragoni

Earned Income Tax Credit (EITC) is not minimum or living wage. Each solves a different problem.

"As we get more specialized, the rich will get richer," he continued. "The question is: 'How do you take care of a guy who is a wonderful citizen whose father died in Normandy and just doesn't have market skills?' I think the income tax credit is the best way to address that."

"That probably means more taxes for guys like me, and I'm fine with it," he said.

Learn more

Earned Income Tax Credit Is a Cheap Way to Beat Poverty, Bloomberg
The minimum wage versus the earned income tax credit for reducing poverty, IZA World of Labor
A False Choice: Earned Income Tax Credit or Minimum Wage Increase, Huffington Post

#warren buffett #rich pay higher taxes #wealthy pay higher taxes #taxes #income tax #minimum wage #living wage #earned income tax credit #eitc #poverty #income inequality #wealth inequality