The 45 billion dollar man, Warren Buffett, states that affluent individuals just like him need to pay their taxes at a greater rate than other taxpayers. There's a suggestion by Mr. Buffett to upsurge taxes on those who are making $1 million or additional in one year. He did not give any range but favors to increase rates on taxable cash in excess of $1 million. This will also include capital gains and dividends. Well-off people, who are generating over $10 million or even over that, need to pay an even greater rate, according to Buffett. We are just hoping that if this scheme would push through, the country’s economy will transform.

Excerpt:

“Buffett proposes raising taxes on those making $1 million or more a year. He doesn’t give a number, but says he would raise rates “on taxable income in excess of $1 million.”

Original article can be found at:

http://blogs.wsj.com/wealth/2011/08/15/would-taxing-the-super-rich-raise-much-revenue/

Click here for more information on getting the best life insurance quotation information. There are other information available as well such as instant term life insurance.