According to Institutional Investors Stephen Taub In an op-ed column in the New York Times on Monday, the modest Omaha multi-billionaire called for a higher tax rate for those making more than $1 million a year and an even higher rate for those making more than $10 million —a mere 8,274 people in 2009.
However, Buffett’s immodest proposal does not sit well with some of the wealthiest people in our society — successful hedge fund managers. Every one of the handful of billionaire hedge fund managers I contacted railed at Buffett’s proposal, calling it self-serving.
All of the managers — none of whom agreed to be quoted by name, of course — criticize Buffett for not calling for a hike in the one area that would affect him the most: the long-term capital gains rate, which is currently just 15 percent. They are all very quick to point out that most of Buffett’s profits over the years
Read more: http://www.institutionalinvestor.com/Article/2885039/Hedge-Fund-Managers-Blast-Self-Serving-Buffett.html?ArticleId=2885039#ixzz1VOWBt7fQ
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