What did Warren Buffett say about taxes?

Warren Buffett has said the tax code needs a major overhaul. To express this point Buffett has pointed out that he, a multibillionaire, pays a lower tax rate than his secretary. Buffett insists that the wealthy, like him, should be taxed more and that tax breaks for the rich often do not make sense.

President Obama proposed such a tax code change and has called it The Buffett Rule.

Buffett was born in 1930 in Omaha, Nebraska. His father was a U.S. Congressman and stockbroker. Buffett showed an aptitude for investment from an early age and was running a small business by the age of 13. He has continued in the field of business and investing and amassed a personal fortune of over $35 billion.