Salient to Investors:
Warren Buffett said:
- Increase taxes on those earning more than $500,000, and minimum rates of at least 30 percent on all income above $1 million.
- The rich won’t strike or stuff mattresses if tax rates are increased.
- Eliminate carried interest et al that enable income from labor to be converted into capital gains
- Eliminate the use of Cayman Islands addresses for tax maneuvering by wealthy individuals and corporations.
- Under prior burdensome tax rates, both employment and GDP increased rapidly, with both the middle class and the rich gaining ground.
Read the full article at http://www.bloomberg.com/news/2012-11-26/buffett-mocks-norquist-idea-on-taxes-thwarting-investment.html