Posted on 04/12/2012 12:15:28 PM PDT by Mark Landsbaum
We agree with President Barack Obama. If any millionaires or billionaires don’t feel they are paying enough in federal taxes, they should pay more. We don’t wish to see really rich people wallowing in guilt.
Warren Buffett and friends, get out your checkbooks. Nothing’s stopping you.
In what had all the trappings of a reelection stunt, the president this week lined up four “patriotic” millionaires and four of their less-wealthy assistants, who we are told pay a higher tax rate than do their rich bosses. These millionaires are “patriotic,” we were told, because they feel they should pay more in taxes.
Here’s a question : “Why haven’t they already paid more if they feel so guilty? . . .
(Excerpt) Read more at orangepunch.ocregister.com ...
“Billionaire Buffett”...Oh, I misread it. At first I thought it was one of those “Eat the Rich!” things...
This whole fiasco with the “millionaires” reminds me of Barry’s “Doctors in Smocks” Show during the push to shove ObamaCare down our throats. Just another dog and pony show for the unwashed masses. No one is stopping these “millionaires” from paying all the taxes they want to pay. “Patriotic” or not, I’m not going to kiss their asses for their “patriotism”.
Barry's Eat All the Rich You Can Buffet.
Stinking hypocrite. For 50 years Buffett was the image of the sweaty, grasping capitalist, using every trick in the book to pay as little tax as possible while he amassed billions of dollars by climbing over the broken bodies of his business competitors. Now — after decades of living a life richer than that of a Roman emperor — he whines that the rich aren’t paying enough taxes. You have a checkbook, you pitiful hypocrite. Write Obama a check and shut up.
Now that G. Zimmerman is charged, Buffett will be the new target.
Tax the rich, feed the poor, bring out yer dead!
Covering R’Money V Obama presidential race in the news cycle will be challenging for the media.
Boring Plastic Capitalist V Stupid Green Communist who serves only his unAmerican puppet masters!
Hell, just take it all.
The SOB stole it, y’know.
Here’s a story about Warren Buffett, the estate tax, and the life insurance industry.
Did you know that the life insurance lobby is actively lobbying to restore the estate tax?
Why would the life insurance industry care about that? It turns out that ten percent of life insurance industry revenue is related to the estate tax. Wealthy people take out life insurance in order to reduce estate taxes because when you die, your life insurance payout doesn’t count as part of your estate.
Did you know that Warren Buffett owns six life insurance companies? Did you know he supports the estate tax? You do now.
President Obama has created a website http://www.barackobama.com/buffett-rule/the-rule-and-you to see how much the Buffett Rule would impact you. However, it is completely a LIE!
As an example, I put in info for a typical family of 4 with a gross income of $65,000. The website says that I pay 15.1% in income taxes.
Then I went ot the IRS website and calculated my taxes. I would have the standard deduction of $11,600 and the 4 exemptions for $14,800, which leaves a taxable income of $38,600. From the tax tables the actual tax is $4,936 or 7.5%.
So the actual IRS income tax rates are less than half what the Obama website reports.
Amazing that he uses his rail cars to haul all that oil the Keystone pipeline was going to move. What a miracle he would allow his name to be used as a wedge issue while making millions from a stopped pipeline.
Pray for America
Thanks, that’s good to know.
I believe that Buffet has been violating the law and probably owes far more in income taxes than has been publicly acknowledged.
Berkshire earns what? Maybe $2B/year? While Buffet may not be the only employee who makes that happen, he is the principal architect.
Under IRS rules you MUST pay yourself a salary from a corporation you control commensurate with your contribution to the bottom line. In other words, LEGALLY, HE SHOULD HAVE BEEN PAYING HIMSELF AT LEAST $200M/yr in SALARY for many years.
I say audit him and assess the back taxes plus interest and penalties.
Then he can pay his fair share.
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