Tax Me Baby One More Time!
Mark Zuckerberg and President Obama have something in common: both want to pay more in federal taxes. The Facebook founder told the president during a town hall-style meeting this week that he would favor an increase in the federal tax rate for the wealthiest Americans.
Gallery: Billionaires Who Favor Tax Hikes
Although in December Obama and Congress renewed the Bush tax cuts, which offer the greatest tax-rate relief for families earning more than $1 million, the start of the election cycle has reignited the conversation. The cuts will expire in 2012.
Aside from Zuckerberg, several other prominent billionaires and wealthy Americans have spoken out in favor of greater taxation, characterizing their support as a democratic responsibility and a duty of the successful. No one has been more outspoken than Warren Buffett. “I think that people at the high end, people like myself, should be paying a lot more in taxes. We have it better than we’ve ever had it,” Buffett has said.
Who else among the wealthy are willing to pay more? See our billionaires’ gallery to find out.