There have been many good takedowns of The Sage of Omaha's recent preening for higher taxes in the New York Times (here, here, and here, for starters). Most make the useful point that nothing is stopping him from giving more money to the government without putting it on his tax return first. His will, which gives his millions to the Bill and Melinda Gates Foundation rather than the government, belies his preening.

Still, it's worth pointing out that his premise -- that he pays less taxes than his secretaries -- is wrong. His 1040 may show a 17% effective rate. That's because he takes his income as capital gains from selling corporation stock. Those corporations pay taxes. TSOO is selling retained earnings that have already been taxed at 35% rate, the second-highest corporate rate in the developed world. He is also being taxed on "income" resulting from inflation -- in other words, on imaginary income. Between the tax on inflation and the hidden tax on income paid at the corporate level, his tax is probably at least twice the 17% rate.

Warren already has his pile. An increase in the top marginal rate will make it that much harder for entrepreneurs to build their businesses; they will have to turn over more of their income to the IRS, rather than opening new locations and funding new products. TSOO wants to pull up the ladder now that he's on top.