Buffett backs millionaire tax

Posted at 6:43 PM, Nov 26, 2012
and last updated 2012-11-26 18:43:54-05

(WTVR) - One of the richest men in the world is weighing in on how much he, and others like him, pay in taxes.

In today's New York Times billionaire Warren Buffett says that high income individuals need to pay more in taxes. He supports the president's "millionaire tax" and says it should be bigger.

The "millionaire tax" requires anyone making more than a million dollars pay 30% in taxes, Buffett says it should be raised to 35% for people who make more than ten million dollars.