that according to republican theory, i should have thrown a fit and refused to invest because of the elevated tax rates on capital gains and dividends. i didn t refuse, nor did others. i have worked with investors for 60 years, and i have yet to see anyone shy away from a sensible investment because of the tax rate on the potential gain. buffett noted that the tax burden on the super rich has declined significantly in the last 20 years. sp@n 1992, the top 400 american income earners paid 29.2% in taxes. by 2008, that had dropped to 21.5%. while the overall income of the top 400 rose exponentially from $71 billion to $91 billion. buffett proposes as i have for years creating a new tax bracket for incomes above $1 million, and yet another top tax bracket for incomes of $10 million or more.