Posted on 09/19/2011 4:40:38 AM PDT by Kaslin
Amen....they have ALREADY made their money and NONE of it will be taxed like Obama wants middle class AMericans to be taxed.
Grasping at straws.
Absolutely NOT.
However, why is Buffett complaining about NOT paying enough in taxes?? The system WE have (have had for a long time) gives tax breaks for charitable contributions.
If Buffett has SO much humanitarian concern over the fact that he can afford more taxes and is not made to pay them, why doesn't he pick one or two of the very many worthy and needy organizations in this country and hand them a donation? It will satisfy his guilt over having so much money, it will be that much less the gov’t will have to spend on the needy AND it will make him feel so much better!!! I really can't believe he is such an idiot and advises the President.
You really think he makes those donations out of his goodness of is heart? I don’t
I LOVE Herman Cain’s 9,9,9 plan
Let’s do that Obambi!!
Most people don’t. They want a tax dodge. Fine... if it serves the needy in the process.
There is nothing to stop him contributing MORE.
Well, yes! There is even a name for these misguided people. They're called "Democrats"!
(They also believe in the Tooth Fairy, Santa Claus, the Free Lunch, Renewable Energy and Man-Made Global Warming!)
Follow the....
http://www.campaignmoney.com/finance.asp?type=in&cycle=08&criteria=pritzker&fname=penny
Billionaire business mogul Penny Pritzker is a member of one of Americas richest families and was the Finance Chair for the presidential campaign of Barack Obama. It was Pritzker that led the prolific, and illegal, fundraising that helped power Barack Obamas presidential campaign. She was the chair of Chicago-based Superior Banks board for five years. Pritzker was into subprime lending before it became all the rage starting in around 2000. Prtizker's chairmanship was to concentrate on sub prime lending, principally on home mortgages, but for a while in subprime auto lending, too, after the Pritzkers' bank acquired its wholesale mortgage organization division, Alliance Funding, in December 1992. Superior Bank went belly up in 2001 with over $1 billion in insured and uninsured deposits; 1,406 depositors lost much of their life savings. This collapse came amid harsh criticism of how Superiors owners promoted sub-prime home mortgages. |
|
[snip]
...Pritzker is chairman of Classic Residence by Hyatt, luxury senior living communities in 11 states; chairman of The Parking Spot, which owns and operates off-airport parking facilities in nine cities; chairman of the credit data company TransUnion and chairman of Pritzker Realty. She also sits on the board of Global Hyatt and plays a role in numerous non-profit groups, including serving as chairman of the Olympic village portion of Chicagos bid to win the 2016 Summer Games.
http://www.theobamafile.com/_associates/PennyPritzker.htm
He publicly proclaims his call for higher taxes on the "rich" and yet his company has been in court with the IRS fighting over his underpayment on tax returns since 2002.
Why not just pay, in fact pay more than he owes.
Warren Buffet is like so many limo-libs, do as I say, not as I do.
His advise is for the little people, the owners of new small businesses, roofers, and lawn services, painters and small construction companies.
When you drive to The Home Depot or Lowes, you see these hard working small business guys every day, loading their trucks and driving off to their next job.
These are the people that Buffet and obama want to tax.
They have 6 to 60 employees, work 14 hours days, and are inundated with countless reams of government mandated regulations and forms.
This group of small business owners are the heart of America's jobs and it's easy to see why this communist President wants to penalize them.
Couldn’t Buffet just use the standard deduction? Then he could pay lots and lots more taxes and not lose any more sleep over it.
Paul Ryan very effectively rebutted the entire Obama philosophy, on FNS yesterday.
Taxing job makers to justify more spending is failed policy and will continue to fail.
Chris Wallace used every Obama talking point and Ryan blasted them one by one.
Such a plan would strike at the heart of mostly lib democrats like Buffet and Gates who use the dodge to avoid estate and capital gains taxes as they lobby for higher income taxes that they will never pay. Obie and the lib Senate would be forced to come to the protection of their financiers.
...and after Ryan had Wallace for lunch, Herman Cain lapped up all the left overs. If Wallace will watch a video of his show, he will see how lame his talking points are.
I knew someone who used to work for the Pritzker’s, it was not a happy place.
When Warren found out he was paying a lesser percentage than his secretary (because he arranged it that way of course), why didn’t he immediately send a huge check to the feds to make up for it? What a revoltin’ hypocrite.
“Republicans should counter with a proposal to tax accumulated wealth of over $1 billion...”
That would really hurt the economy. The money is not in someone’s back pocket, it is in companies that employ people. Bill Gate’s money is tied up in Microsoft, where real people work. Even Buffet has money invested in companies where real people work. Any taxes — any at all — take money from average people.
If you take away someone’s ability to be a billionaire, they will stop making money at 900 million and ride the rest of their lives. No more Apples, Microsofts... you name it.
To be a conservative means supporting lowering taxes no matter who would be paying.
Changing to the Standard Deduction will not appreciably affect Buffet because most of his “income” is reclassified as other than income to keep his taxable “income” at an extremely low level. Now, if he were proposing to raise taxes on everyone with $50 million or more in ASSETS at the end of each year he might not be seen as a worthless BJ artist for der Fuehrer.
No, the Republican counter-proposal should be to eliminate the Alternative Minimum Tax (which is a horror to complete even when you don’t have to pay it), and to replace it with a cap on the amount of income that can be excluded from taxation by any means: the form would be simple, you add up your deductions, your tax-exempt income, and the total of all of your tax credits divided by your top marginal rate, subtract the cut-off (entering 0 if the amount is less than 0) and add the result to your taxable income. (Something like six lines, less than the AMT worksheet.) I’d set the cap at $250,000 for individuals, $500,000 for those married and filing jointly, and $100,000 for those able to be claimed as dependents, though I could be persuaded to go for a different caps.
What’s the point? The point is that this is that limiting the ability to exclude income from taxation is the only income tax measure that will actually improve capital formation and thus job creation while being able to be sold to the folks across the aisle as a “soak the rich” measure: it makes tax avoidance less desirable than higher yields, and thus encourages the wealthy to put their capital to maximally productive use.
Tax all assets at 1.5%, and you can eliminate all other federal taxes (including payroll).
Let the billionaires pay.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.