Some of the highest earners are among Romeny’s 47% who pay no federal income tax., says investor Warren Buffett.
"They were the moochers, and they paid zero," Buffett, the chairman of Berkshire Hathaway Inc. (BRK/A), said today in an interview on MSNBC. "The way they get at them is a minimum tax and it's very simple to do."
Buffett is pressing his call for a minimum tax on incomes above $1 million as lawmakers seek to avoid the so-called fiscal cliff, which would impose more than $600 billion in tax increases and spending cuts starting in January. He said in a New York Times opinion piece yesterday that higher taxes on the wealthy won't thwart investment.