Warren Buffett, one of the richest people in the world, agrees with President Barack Obama that the super wealthy should be footing a greater share of their income for the tax bill.
Buffett says that he pays less tax, which was over $7 million for tax year 2010, than 20 other people in Berkshire Hathaway. Many of the super-rich are investors, who's income originate from investments, not a regular paycheck. If held for over a year, taxes on capital gains are limited to 15%, thus the lower tax bill.
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