
Shockingly not shocking.
(Politico) — The people gathered at a Monday afternoon town hall in rural Minnesota don’t make as much money as Warren Buffett, but they likely pay a higher tax rate than him, President Barack Obama said during his appearance, citing the billionaire investor’s op-ed in The New York Times to make the case the Washington needs more revenues.
“Now, I may be wrong, but I think you’re a little less wealthy than Warren Buffett, but that’s just a guess,” Obama said to laughter along the waterfront in Cannon Falls.
Even so, those who turned out to hear Obama are likely taxed at a higher rate than the 17 percent Buffett said he pays, the president said.
“You don’t get those tax breaks, you’re paying more than that,” Obama said, using Buffett’s argument to make the case that the congressional supercommittee needs to find ways to bring in additional revenues to help reduce the deficit.
“He said we’ve got to stop coddling billionaires like me,” Obama said. “That’s what Warren Buffett said.”
