BUFFETT'S SOLUTION: TAX THE RICH

The billionaire investor Warren Buffett said, he doesn't want to be"coddled" by Congress, while suggesting that the wealthier individuals should pay higher taxes. He adds that higher taxes won't dampen job growth. Buffett believes that higher tax rate should be imposed on millionaires and those who make at least $10 million annually should pay even higher taxes.

In a recent published article, he wrote,"My friends and I have been coddled long enough by a billionaire-friendly Congress..it's time for our government to get serious about shared sacrifice."

"While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks."He also stresses that 40 million jobs were created between the year 1980 and 2000, and at the time, the tax rate for the rich was greater.

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