The “Upper Richistanis,” as this article names them, live off the interest of their investments. They do not have an “earned” income, therefore they aren’t taxed.
And so, they don’t care if taxes are raised on the upper middle class to “Lower Richistanis” who do pay taxes.
Therefore, the Upper Richistanis can vote Obama without a conscience.
Do you honestly not know what the capital gains tax is?
The reasons why Buffett supports Obama is not because of the bizarre notion that investment holdings are untaxed - which they most definitely are - but:
(1) Buffett is a strong advocate and funder of abortion and "population control" - it is his personal obssession. Barack Obama is the most pro-abortion candidate for President ever. That alone wins him Buffett's vote.
(2) Buffett is so rich that he can afford to place all of his investments into tax-sheltered trusts, trusts which own the vehicles and properties he uses and which pay for all his meals and incidentals as business expenses. He spends millions to avoid billions in taxes. Very few people are wealthy enough to be in a position where spending 50 or so million on establishing and staffing a family of trusts is cheaper than paying taxes.
It is this, and not an imaginary America where there is no capital gains tax, that exempts Buffett from paying taxes at regular rates.