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Billionaire Buffett to lawmakers: I don’t need your coddling

Warren Buffett, an icon of American super wealth, skewers the anti-tax political theocracy dominating Republican politics in a New York Times op-ed today. GOP justifications for refusing to raise taxes for billionaire Americans at a time of record deficits are preposterous, he writes, adding that taxes have never stopped wealthy people from investing. He points out that Clinton-era tax rates were clearly more effective in adding jobs than the slashed rates of the Bush years. He adds that most of the mega wealthy only pay taxes on investment income, whereas lower- and middle-class Americans pay payroll taxes, too. He says the game has been rigged in his favor by the country's billionaire-friendly Congress and that the country's fiscal policy is unethical and absurd.