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It is well known that Warren Buffett thinks he should pay more taxes. There are certain arguments made against that based on a faith that the Laffer Curve applies at all levels of taxation.
Buffett himself offers an informative perspective and data on both of these points in this article.
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Tuesday, August 16, 2011
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Well, Mr. Buffet’s article is well written and I will admit very compelling. As someone who has always seen a progressive income tax as both imminently practical and inherently inequitable I found myself slowly being seduced by Mr. Buffet’s logic.
ReplyDeleteSo I slept on it and here is my bottom line. As a practical matter I am more receptive to making the income tax rates more steeply progressive for high earners than I was before I read the article. That said, my belief that a progressive income tax is unfair is still with me.