Sigh. Buffet isn't at all a disinterested party in this matter. A tax affecting the lower end of the rich puts a barrier to entry into the ranks of the megarich. Lowering the cost of real estate, airplanes and businesses for him.<p>Can't we all just have a flat consumption tax and be done with it? 10% would benefit everyone (in particular retirees and savers), increase actual collections and be simpler to administrate (you get to fire a bunch of government employees). Increased revenue, reduced complexity, favouring savings. That sounds like a win to me.<p>In particular Alexander Hamilton wrote in the federalist papers about how these sorts of taxes were harder to raise to confiscatory levels. which 35% certainly is.
Uhm, no, millionaires are people who have at least one million dollars in some form. The article is about people making at least one million dollars per year; a much smaller group of people.