FROM CNN's Jack Cafferty:
Rich people "should be paying a lot more in taxes." So says one of the richest Americans out there.
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2010/images/11/22/art.buffett.jpg caption="Warren Buffett."]
Billionaire Warren Buffett told ABC News that taxes for the lower, middle class and possibly upper middle class should be cut even further.
But he said, "I think that people at the high end - people like myself - should be paying a lot more in taxes. We have it better than we've ever had it."
Buffett says the rich always insist that if their taxes are lower and they have more money in their pockets, they will spend it and then it will trickle down; but he says that hasn't happened for the last 10 years.
Buffett's not the only super-wealthy person to advocate paying more taxes. A group of 45 people who call themselves "patriotic millionaires" agrees.
They're asking President Obama to allow the Bush tax cuts to expire at the end of this year for incomes over $1 million.
Critics question the political motivations of this group.
In any case - if Congress does nothing about the Bush tax cuts, there are only 39 days left until the largest tax increase in American history will go into effect.
Democrats in the House and Senate say they will hold votes after Thanksgiving to extend the Bush tax cuts for those making $250,000 or less.
However, it's unclear if they have enough votes in either chamber to pass only the middle class tax cuts. They may need to find middle ground with the Republicans, who want to extend the tax cuts for everyone.
Here’s my question to you: Warren Buffett says rich people "should be paying a lot more in taxes." Do you agree?
Interested to know which ones made it on air?
Jeff in Minnesota writes:
We need to go to a tax code that is simpler and straightforward. I think a graduated flat tax approach with few or no deductions would be the way to get this done. That way everyone pays their fair share, there is little to no paperwork to file your taxes and the government doesn't have to invest in supercomputers to process our tax returns every year.
Dane in Fort Lauderdale writes:
Yes, the rich should pay more taxes. They've had these tax cuts for a long time now, and it obviously hasn't done any good for the economy. They're just greedy, and we're just stupid to put up with it. Unfortunately, our legislators don't work for us, they work for them. So I doubt their taxes will go up any time soon.
Agatha writes:
If Buffett feels he should pay more taxes, I think his share will more than compensate for the shortage of already wasted taxpayer money. As for me, I would prefer to waste my own money that I worked so hard for than to let Congress and the White House waste it. They don't know the value of someone else's dollar.
Ray in Georgia writes:
Yes, of course. Rich people should give poor people a job, pay them wages, pay their unemployment benefits, Social Security, health benefits, make their house payments, etc. And if it doesn't all work out, give everlasting unemployment wages. Heck, why work when you can get it all for free?
Al in Delaware writes:
The Republicans favor the rich and the Democrats favor the middle class. The contrast can't be clearer. With Warren Buffet behind him, Obama has the chance to take a strong stance on something that the majority of the people would back him on. But knowing him, he'll probably wimp out and let the rich people's party have its way.
Joanie in Wisconsin writes:
The rich invariably find a loophole. However, who is stopping Buffett and his pals from sending more money to the Treasury? Put your money where your mouth is.
Richard writes:
Why shouldn't the rich pay more? What's left of the middle class has been paying more than our share of taxes for years.
Michael in Virginia writes:
Leave the rich alone. When was the last time a poor man offered you a job?