“We have promised that the rising tide will do all the boats,” Warren Buffett said – but instead, “lift all yachts” and the wealthy became richer.

Warren Buffett He is the billionaire known for his killing – still lives in the same modest house that he bought in 1958 and avoid famous luxury. But the most surprising thing from his lack of a yacht is his willingness to summon the people who own them.

In an interview in 2012 with Charlie RoseBuffett did not back down from the growing wealth gap. “We promised to raise the emerging tide all the boats. The rising tide has raised all yachts.” His point of view? The economy may have grown, but the benefits did not fade the way the Americans were told. The wealthy became very richer, while ordinary workers left the water. Bovet, this is the real problem.

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“We did not have an ounce of a common sacrifice from the rich,” he added in that same interview. In other words, billionaires continue to win, while the system does not do much to settle the stadium.

If there is one thing that is Buffett, then it is fixed. In 2024, he returned to it, where he presented the same argument that he was doing for more than a decade: the tax system prefers the wealthy, and needs change. At the annual meeting of Berkshire Hathaway (NYSE: BRK, BRK.B), he indicated that if 800 companies pay their fair share, the Americans will not condemn federal taxes. He pointed out that his private company paid more than 5 billion dollars at a rate of 21 % for 2023 – and if Berkshire can do this, then why caners not?

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In an interview with PBS NewShour, Jimmy Damon, CEO of JPMorgan Chase (NYSE: JPM), made tax policy and national debt, providing sudden support for higher taxes on the wealthy – specifically, Buffett base.

“I will have a competitive national tax system, and after that I will increase growth,” Damon said, adding that some tax increases may be necessary. “Perhaps the taxes are raised a little – like the type of base from Warren Buffett, I will do it.”

The Buffett Base, which was proposed for the first time during the Obama administration, depends on a simple idea: anyone who earns more than a million dollars annually must pay a 30 % actual tax rate.