On September 30, 2011, Warren Buffett spoke at Business Wire's 50th anniversary lunch at the New York Stock Exchange (NYSE) and said having higher taxes on the rich is not going to solve the deficit problem.
Buffett says, "Having higher taxes on the ultra rich is not going to solve the deficit problem but no one act is going to solve it. We are going to need a lot of shared sacrifice in order to get our fiscal situation where it should be for a country like this. We’re going to ask something from everybody including people that are poor and people that are middle class. And getting an extra $20 billion from about 50,000 people out of 310 million in this country, 50,000 people who are enjoying terrific incomes with very low tax rates."
(h/t Verum Serum)