By Val Brickates Kennedy
BOSTON (MarketWatch) -- Billionaire investor Warren Buffett is calling on Congress to crank up the tax rate on the "mega-rich," claiming that many only pay around 15% income taxes due to various taxation loop-holes, which is unfair to middle-class workers. In an op-ed piece that ran in Sunday's New York Times, Buffett said that last year he personally paid only 17.4% of his income in taxes, whereas many of his workers averaged at 36%. Buffett also argued that a higher tax-rate would not discourage investment, asserting that investment and job-growth rates were higher in the 1980s and 1990s when the tax rate was substantially higher.
