The world's second wealthiest billionaire, 77-year-old Warren Buffett, is Joe Six Pack's newest defender.
He is the antithesis of the stereotypical tycoon. Although worth $54 billion and principal shareholder in dozens of corporations, Buffett doesn't live high.
He lives in a house he bought for $31,500 four decades ago, relishes talking common sense with average folks over hamburgers and Coca Cola (he has a $13 billion stake in the soft drink), and is outspoken about U.S. government policies. His newest target is the U.S. tax system, which he says is unfair to working Americans.
During a 70-minute chat with 600 wealthy donors at a fundraiser for Sen. Hillary Clinton, Buffett complained he was taxed last year at a rate of 17.7 percent on income of $46 million while his office receptionist was taxed at 30 percent.
He challenged Congress to learn about the shocking tax rates for workers "who clean our offices." The audience of millionaires erupted in applause.
This passion for the privileged to help Americans with fewer advantages is a new crusade for Buffett. "We have the chance in 2008 to repair a lot of damage," he said, a very strong hint voters should put a Democrat in the White House.
"Our problem is how we conduct ourselves in the world," Buffett told the group, an unconcealed allusion to President Bush's foreign and domestic policies.
Stock in Buffett's parent holding company, Berkshire Hathaway, is way, way out of reach of most Americans—$71,000 per share. But they could show their appreciation for Buffett's concern about Joe Six Pack's tax rates by buying a six-pack of Cokes—and hope Congress does, too.
