In it, but not of it. TPM DC

Warren Buffett: Raise Taxes On The Rich, Already!

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Newscom

But as lawmakers keep sparring over tax cuts on Capitol Hill, Buffett said that he thinks it's "almost a cinch that they will be extended for the people - I don't know if it'll be exactly [making less than] $250,000, or whatever the number may be, in the end."

Buffett added he doesn't think that letting the tax cuts for more than $250,000 in income expire amounts to "a tax increase for people up and down the line."

"I think there should be tax increases for people in the high income levels," he said.