Buffett Continues Press for Tax Increases on Rich

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Aug. 30 (Bloomberg) -- Warren Buffett, the self-made billionaire and son of a former Republican congressman, continues to widen his rift with the Republican Party by pressing for tax increases on the wealthy and reinforcing ties with President Barack Obama. Buffett has called the Tea Party approach to budget talks "insane" and proposed raising $500 billion by taxing the richest Americans. Bloomberg's Megan Hughes reports from Washington. (Source: Bloomberg)

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