Democrat Billionaires think about the other 99%

Buffett, the third-richest man in the world, is supporting Democratic presidential hopeful in the upcoming elections, because he wants more equitable wealth distribution and taxataion systems in the US.

Buffet criticised the US tax system for allowing him to pay a lower rate than his secretary and his cleaner. Speaking at a fundraiser in New York for Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said . . . If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.

Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent.

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