Posted on 08/06/2007 6:14:14 AM PDT by Loyal Buckeye
On every 1040 form there is a place to make a voluntary donation to help reduce the public debt.
If he’s complaining about paying too little in taxes he can always volunteer to pay more. Obviously he didn’t so Buffet, therefore, is a liberal hypocrite.
Well, of course. If Buffett’s secretary makes $60,000 a year, then she’s considered rich by liberal standards.
In service of the rich, my ass! That's what a strong economy needs. This writer is a commie rat.
Buffett is either lying or he is using statistics to lie.
At $60,000 his secretary would not be even be in the 30% marginal income tax bracket unless she is single with no dependents and neglects to itemize her deductions. Even then it is doubtful she would pay 30% of her NEXT dollar in income taxes let alone 30% of her income. However, if he is so concerned about this, he can restructure his income stream so that more of his income is the form of wage earnings and less is in the form of capital gains and other forms of investment income that are taxed at lower rates. Then he can pay more of his income in taxes.
So called journalist are overpaid also.
Warren Buffet can always pay more if he wants to. I personally have no desire to turn more money over to the govt just so they can waste it.
And why is it only the wealthy that must do their part. Why can’t the lifetime welfare losers get a job?
5.56mm
good little conservative economists, huh ?
It would be nice if the consideration would be to reduce everyone's income taxes to the same rate as capital gains...
Plus the insurance companies shield him from capital gains taxes.
I guess the writer didn't bother to check into who is paying more in taxes these days. After Bush's "tax cuts for the rich" the top 1% of income earners are paying a higher percentage of all income taxes than they were under the clinton administration. Same for the top 2%, the top 5%, and the top 10%. So if all these super-wealthy people are not paying their fair share today but they are paying a bigger share of all income taxes than they were when clinton was president then I guess clinton is even more evil than Bush.
He is probably lumping FICA in that rate as well.
Yes. Buffet likes the tax code just the way it is, thank you.
Plus Buffett probably takes his income as dividends and cap. gains and very little salary.
Is he suggesting that dividends and cap gains s/b taxed the same as salaries, which would include using the tax tables plus adding on social security and medicare taxes?
Kennedy, Kerry, Edwards, Pelosi, Feinstein, Corzine, Bloomberg (RINO)...to name a few.
Count me in, I am sick of Buffet and his drivel being trumpeted by so-called journalists. Worse than sanctimonious Holly-weirds.
I notice the piece has no comment about what happens to the economy when you tax the rich in their class envy hatred. Clue — The economy contracts. Ask Jimmy Carter for more insight.
It's interesting how fast the left has got on the tax, spend, fund socialism and gun control plan. You would think it was all they knew. Funny I don't recall this in the platform for 06, did I miss something, or is this just assumed standard issue when you elect liberals.
I read this in “Pravda West” yesterday. I guess the other paper just picked it up.
If this guy took my econ class and still said this, I'd shoot him. He needs to study a little more about economics and incentives...he might start with the Laffer Curve. The Kennedy and Reagan tax cuts both saw unprecedented growth simply because both lessened the crushing burden of the progressive tax structure. Prior to the Kennedy cuts, you got to keep 8 cents on the dollar if you made over $100,000/yr. How hard would you work if someone came along and stole 92 cents of every dollar you made?
Further, comparing a secretary's salary to Buffet's in the manner used by this clown is bear-baiting. If you want to level the playing field, use a flat tax with absolutely no deductions. I'd even vote for the Fair Tax over the current system because the current system distorts resource allocation simply because of a politician's political whim (although the "pre-bates" of the Fair Tax bother me).
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