As a freshly minted middle-class American, I disagree with Mr. Buffet's argument here. Though his eagerness to share the tax-burden is laudable, I hope that tax rates stay low for him. I would pay higher taxes to keep it that way.
Simply put, I don't trust the government with that money.
It's as if wealth is zero-sum, and Mr. Buffet believes he and his ilk have taken some of it from the rest of the population. But he's not going to go without his generous slice of the pie if his friends aren't forced to go without theirs. But he and some of his friends are voluntarily giving their pie to worthwhile causes... as we speak! no force necessary!
I would pay higher taxes to keep it that way.
The sad reality is that the government is going to have to raise revenue somehow, and if that's the case, I'd prefer to raise it on those with a lot of passive income, who are less likely to move their assets out of the country. How you achieve that objective is beyond me.
> Simply put, I don't trust the government with that money.
The only logical conclusion there would be moving out to a different country that offers equal or better living standards because the longer you stay, the more money you give to that government you do not trust.
Simply put, I don't trust the government with that money.