Warren Buffett and Bill Gates agree the rich should pay higher taxes—here's what they suggest. via CNBCMakeIt
Warren Buffett doesn't think the rich in America are paying enough in taxes. "The wealthy are definitely undertaxed relative to the general population," he told CNBC's Becky Quick during an interview on "Squawk Box" on Monday.
Back in the 1800s, for example, when most people worked on farms, those who were stronger and worked harder still earned more, Buffett explained, but "the top person working on that farm would be worth one-and-a-half to two times what the bottom person was." To Buffett, that means the next step should be figuring how to take care of people like "a guy who is a wonderful citizen" but "just doesn't have market skills.", which benefits people with low incomes. Even though "that probably means more taxes for guys like me," Buffet said, "I'm fine with it."
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