According to CNNMoney Zillionaire investor Warren Buffett this week showed a little more leg in his campaign to get Congress to raise taxes on the uber-rich.
In a letter to Republican Rep. Tim Huelskamp Tuesday, Buffett revealed that his adjusted gross income last year was $62,855,038 and that his taxable income was $39,814,784. Buffett said he paid $15,300 in payroll taxes.
Buffett also said his federal income tax bill came to $6,923,494, or 17.4% of his taxable income -- two points he revealed in a New York Times op-ed in August urging Congress to tax the wealthy more.
Buffett provided a copy of his correspondence with Huelskamp to CNNMoney's Poppy Harlow.
He said in an interview that the roughly $23 million difference between his AGI and taxable income was due largely to deductions he took for charitable giving and local taxes…
Find out more at http://money.cnn.com/2011/10/12/news/economy/buffett_taxes_2010/index.htm?hpt=hp_t2
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