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Because Warren Buffett Said So


Photographs: Scott Eells/Bloomberg via Getty Images (Buffett); Robyn Beck/AFP/Getty Images (Baucus); Vince Bucci/PictureGroup/AP photo (Jay-Z); Patrick Mcmullan (Schwarzenegger, Levitt, Rodriguez, McCain, James); Newscom (Obama); Alamy (Cards)

In August, Warren Buffett wrote a New York Times op-ed advocating higher taxes on the rich; last week, the president mentioned Buffett by name while proposing higher tax rates for millionaires—an idea that the administration is calling the “Buffett Rule.” It wasn’t the first time someone has used Buffett’s untouchable reputation for his own ends.

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