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Warren Buffett continues to argue for higher taxes for wealthy

by Adam Russett on October 13, 2011

Warren Buffett, the world's third-richest person who has been a vocal proponent of increasing taxes on the wealthiest Americans, has taken his struggle to Congress' deficit-reduction super committee. He sent the group a series of letters between himself and Republican Representative Tim Huelskamp of Kansas which indicated that he would be willing to release his federal tax returns as long as other wealthy Americans would follow suit, according to The Associated Press.

"If you could get other ultra rich Americans to publish their returns along with mine, that would be very useful to the tax dialogue and intelligent reform," Buffett wrote in the letters, which the AP obtained yesterday.

The bi-partisan panel that Buffett corresponded with was created this summer in the hopes of finding a way to decrease the national debt.

Buffet's letter to Huelskamp did provide some insight into his taxes and income. The news source states that Buffett put his total adjust gross income at $62,855,038, while his taxable income was $39,814,784.

Buffett's fight to increase taxes on the super rich coincides with a cry from many members of the public who are taking part in the Occupy Wall Street protests across the country. While the protesters' demands are multitudinous, there is a unifying call among participants to decrease the income gap between the wealthiest 1 percent of the nation and the middle and lower classes.

Warren Buffet's son, Howard Buffet, recently voiced his support for the Wall Street protesters, according to Bloomberg. The younger Buffett focused his comments on food distribution, saying that for the poor, obtaining sustenance has become increasingly difficult.  

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