How does warrior taunt work exactly?

[Kaleadar]

because taunt puts you 1 point higher then his aggro?

I can walk up to someone killing something and taunt the mob and the mob will turn to me. If dont do anything else other then just hitting taunt who ever does dmg will pull the mob off me.

1 point higher is not a huge gain and requires extra aggro of some sort to keep the mob from turning from you.