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This summer, Buffett’s op-ed in the New York Times argued for an increase in taxes for the rich, saying the they are “coddled” by Congress “as if we were spotted owls or some other endangered species.” He wrote: “My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.”
In the letter, Buffett wrote that he paid $6,938,744 in federal taxes last year, or
17.4 percent of his taxable income.
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In September, President Obama proposed the “Buffett rule,” explaining that those earning $1 million or more should be taxed at similar rates as the middle-class .
Buffett, worth about $39 billion, is the second richest person in the U.S. after Gates ($59 billion), according to Forbes’ list of richest people in the country released in September.
Buffet’s wealth fell $6 billion in the past year, losing the most total dollars in Forbes’ list.
He gave away $3.27 billion in the past year and was affected by a 10 percent decrease in the shares of Berkshire Hathaway, where he is CEO.
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