
Wait, when did Rupert Murdoch write an op-ed demanding his taxes be increased?
(The Hill) — Warren Buffett said Tuesday that he would release his tax returns — if NewsCorp chairman Rupert Murdoch did so as well.
A cornerstone of President Obama’s proposed tax reform is the “Buffett rule”, in which richest Americans would not be able to take deductions that reduced the percentage at which they were taxed below that of middle class Americans. The idea stemmed from an anecdote Buffett told Obama in which he discovered that his secretary was taxed at a higher rate than he was.
Republicans, who reject the plan, have called for Buffet to release his tax returns, a sentiment echoed recently in a Wall Street Journal editorial. The Journal is owned by NewsCorp.
