Buffett Proposes 30% Minimum Tax on Incomes Over $1 Million

In an op-ed in today’s New York Times, Warren Buffett proposes a 30 percent minimum tax on taxable incomes between $1 million and $10 million, and 35 percent on amounts above that.  He argues that a higher marginal tax rate on capital gains and dividends would NOT discourage investment versus leaving “the money in [a] savings account earning a quarter of 1 percent”.

The entire op-ed is available at:

http://www.nytimes.com/2012/11/26/opinion/buffett-a-minimum-tax-for-the-wealthy.html?hp&_r=0