A Real Tax For Warren Buffet and his ilk

Reader comment on: Obama's Buffett Tax

Submitted by Dan Calabria (United States), Sep 18, 2011 20:23

I'm pleased that the Wall Street Journal published my letter about Mr Buffet's "dilemma" on 9/1/11.

Tax My Income, but Hands Off My Wealth

The uber-rich, including Warren Buffett and Liliane Bettencourt, are beyond boring with their hypocrisy ("Wealthy French Push for Extra Tax," World News, Aug. 24). There is absolutely nothing to prevent either of them, including all of their wealthy friends, from contributing additional monies to their respective country's treasuries. All it would take is a phone call to one of the army of tax attorneys in their employ.

However, the real solution to their "problem" is a wealth tax assessed annually on their total global wealth in excess of $10 million, including any and all tax-haven accounts, plus their foundations. Perhaps a mere 5% tax on that total wealth would salve their guilty feelings and put an end to their pained hypocrisy.

Dan Calabria

South Pasadena, Fla.

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Other reader comments on this item

Title By Date
⇒ A Real Tax For Warren Buffet and his ilk [154 words]Dan CalabriaSep 18, 2011 20:23
And if you look at it the muni exemption is really a subsidy for state and local governments [131 words]LyleSep 17, 2011 23:02

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