Watch: Warren Buffett Calls For Tax Reform

Warren Buffett sat down with Tom Brokaw on "NBC Nightly News" last night to discuss his problems with the US tax structure. He described an informal poll of his office, where the average tax rate was 32.9 percent, compared to his 17.7 percent, citing that as evidence that "the tax system has titled toward the rich in the last 10 years." He also talked about hedge fund managers and the lower tax rates they enjoy. Watch:

From NBC, 10/29

Buffett prefers a progressive consumption tax system. Share your thoughts on that in the comments.

Comments

[robertlockwoodmills]

I spent 28 years with Wall Street firms, and I can truthfully say it's the only place on the planet Earth where you can earn an extra $19 million for fucking up, as O'Neal has done.

[nomoredead]

Rangel/Buffett in 08

[HBeachbum]

Only if it's Jimmy Buffett

[GreedyOldPsychopaths]

Get real. As Chairman of the House Ways and Means Committee, Rangel has been responsible for approving and passing into law some of the most pro corporate free trade agreements and legislation to date.

[EuGeneTherapy]

All true, and David Sirota has been riding his ass hard since the Dems regained control of Congress in 2006. Rangel tries to explain it away as mere negotiaion, but it is clear he has been in Congress too long and has lost sight of what is important for average Americans!!!

[nomoredead]

This was even mentioned on msnbc's financial program this morning ( which shocked me ) and gave the argument for Charley Rangels tax changes some traction.