Billionaire investor Warren Buffett is calling on the so-called"mega-rich" to pay more in taxes.

Buffett said Monday in a New York Times opinion piece that hewould immediately raise rates on households with taxable income ofmore than $1 million, and he would add an additional increase forthose making $10 million or more.

He also recommends that the 12 members of Congress charged withdevising a deficit-cutting plan leave rates for 99.7 percent oftaxpayers unchanged.

"My friends and I have been coddled long enough by abillionaire-friendly Congress," Buffett wrote. "It's time for ourgovernment to get serious about shared sacrifice."

Buffett noted that the mega-rich pay income taxes at a rate of15 percent on most investment income but practically nothing inpayroll taxes. The middle class, meanwhile, typically falls intothe 15 percent and 25 percent income tax brackets and is hit withheavy payroll taxes. He said Washington legislators "feel compelledto protect us, much as if we were spotted owls or some otherendangered species."

Buffett said he knows many of the mega-rich well, and mostwouldn't mind paying more in taxes, especially when so many fellowcitizens are suffering. He also said he has yet to see anyone shyaway from investments because of tax rates on potential gains, evenwhen rates were much higher in the mid-1970s, 1980s and 1990s.

"People invest to make money, and potential taxes have neverscared them off," he said.

Copyright 2011 The Associated Press.