Buffett said the notion that high taxes discourage hiring and investment is false.
"I have worked with investors for 60 years and I have yet to see anyone -- not even when capital gains rates were 39.9 percent in 1976-77 -- shy away from a sensible investment because of the tax rate on the potential gain," he said.
"People invest to make money, and potential taxes have never scared them off," he said. "And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what's happened since then: lower tax rates and far lower job creation."
The U.S. unemployment rate has averaged 9.5 percent in the past two years, dropping to 9.1 percent in July from 9.2 percent a month earlier, a government report showed Aug. 5