Paul L. Caron

Monday, July 2, 2007

Democratic Presidential Candidates Debate Warren Buffet's Tax Rate

Last week, I blogged Warren Buffet's complaint (made at a Hillary Clinton fundraiser) that he paid a 17.7% tax rate on his $46 million of taxable income in 2006, while his employees paid an average 32.9% tax rate.  Talking Taxes reports that the Democratic presidential candidates were asked at last week's debate:

This week, billionaire Warren Buffett said that the very wealthy aren't taxed nearly enough. In fact, he noted that he's taxed at a lower rate than some of his employees who earn much less. Do you agree that the rich aren't paying their fair share of taxes and, if so, what would you do about it?

Check out the responses of Joe Biden, Hillary Clinton, Christopher Dodd, John Edwards, Mike Gravel, Dennis Kucinich, Barack Obama, and Bill Richardson here.  For the video and full transcript of the debate, see here.

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