Seems that the best way to raise revenue for the goverment is to create more jobs Every new job is taxed about 30% with Fica and medicaid included. If we create 2 or 3 millions new jobs a year that will promote greater tax revenue then any tax increase.
I think it's dangerous to try to generalize from one rich guy's experience. Without seeing his tax return, it's impossible to know his tax situation. I would assume that most of his income is tax-advantaged, eg dividends and cap gains. They are given favorable tax treatment for a very good reason, namely that they have already been taxed once, as income, and giving them favorable treatment encourages investment and savings. In buffett's case, that is not necessary, but you can't just extrapolate that to the economy as a whole. His guilt over not being taxed enough evidently wasn't so strong that he didn't use a private foundation tax dodge to insulate most of it from the IRS. Bottom line, he is a hypocrite who is singing from the liberal democrat choir to get favorable media coverage.