The 80-year-old "Oracle of Omaha," one of the world's three richest men, has taken to the pages of the New York Times to call for higher taxes -- yes, higher taxes -- for himself and his well-off peers. "My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," he said.
Buffett calling for a higher tax burden for the wealthy is nothing new; last November, in a lengthy sit-down interview with ABC News, he insisted that the wealthy "have it better than we've ever had it" and that they had an obligation to pay substantially more tax.
However, the timing of his latest appeal made people take notice. Washington lawmakers are fighting about how to reduce the nation's budget deficit and curb its massive debt burden, and the question of "added revenue" -- code for higher taxes -- looms larger than any other.
Republicans have fiercely resisted any attempts by President Barack Obama and Democrats in Congress to make higher taxes for the wealthy part of any budget plan, insisting instead on all the deficit-curbing measures be made through spending cuts.
Taxation will be a major theme of the 2012 presidential election, and Buffett planted himself squarely in the middle of the debate.
"While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks," he wrote.
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