Posted on 09/25/2011 8:41:53 PM PDT by george76
Mayor Bloomberg Sunday slammed billionaire investor Warren Buffett's call for higher taxes on the super-rich, dismissing it as political theater.
"The Buffett thing is just theatrics," Hizzoner said speaking on NBC's "Meet the Press."
In August, Buffett - known as "The Oracle from Omaha" - said he forked over a little less than $7 million in taxes last year, which added up to roughly 17% of his income.
That percentage was lower than the secretaries in his office, he pointed out.
Bloomberg said Buffett's use of the figures was a bit of a smoke and mirrors game.
"If Warren Buffett made his money from ordinary income rather than capital gains his tax rate would be a lot higher than his secretaries. And in fact a very small percentage of people in this country pay a big chunk of the taxes," the billionaire mayor argued.
A following Associated Press review revealed that millionaires on average pay 29.1% of their income in taxes.
(Excerpt) Read more at nydailynews.com ...
Wow, something I agree with Bloomberg on.
“Wow, something I agree with Bloomberg on.”
Me too and the agreements are few and far between.
Hell I agree with him too.
“And in fact a very small percentage of people in this country pay a big chunk of the taxes,” the billionaire mayor argued. “
It also means if a few decide to move, say adios US govt. The tax base should be more diversified.
Yes, I am gob-smacked that such clear reality would escape Bloomberg’s pie-hole.
Huh.....
Is it possible that he isn’t as arse-ignorant as he seems?
Taxing income, any income whatsoever, is ridiculous anyway.
Go with a sales tax. If you buy something, you pay a tax. If you earn something, its yours.
This country needs to get away from taxing production, and start taxing consumption.
Not one or the other.
You want pictures with circles and arrows and a paragraph on the back of each one or will a one word answer suffice?
This may have been theatrics, but the song and dance Bloomie’s been doing over there at the Gracie Mansion has been downright shameful.
No mayor with an ounce of red American blood would have allowed, much less forced, the building of the 9/11 mosk. He’s a putz no matter which way you slice it.
I agree, but you are both self serving dopes. Go away Bloomie.
Americans for Limited Government President Bill Wilson notes, the company openly admits that it owes back taxes since as long ago as 2002. “We anticipate that we will resolve all adjustments proposed by the US Internal Revenue Service (“IRS”) for the 2002 through 2004 tax years … within the next 12 months,” the firm’s annual report says.
It also cites outstanding tax issues for 2005 through 2009.
No pics needed.
I just generally assume he a statist who occasionally lets reality cross his lips before he recants it.
NY-MSM doing it’s part all along the way, I understand.
I don’t understand why he should open his yap at this time and tell the truth. Schumer was probably on the phone within minutes telling him to STFU and go along with Obumonomics. Just makes me distrust him even more.
Which is why Obama’s campaign is doomed to fail not just in Congress but among the people. You can’t be so blatantly dishonest and expect to garner support. If Obama and Buffet were honest they would say they want to increase Capital Gains taxes... but to compare someone making money from Capital Gains to someone making income is unfair.
Of course, I am for not taxing any form of income, but that’s a different matter. The Mayor is right - they are playing at cheap political theatrics and not talking straight to the people about what they want and how or why they want it.
I like that. A “Putz no matter how you slice it”.
Go with a sales tax. If you buy something, you pay a tax. If you earn something, its yours.
This country needs to get away from taxing production, and start taxing consumption.
Not one or the other.
I agree. Unfortunately, it's a concept many FReepers fail to understand.
(Added benefit: IRS employees, accountants, and lawyers will have to look for substantive employment.)
Nah, Putz it too nice a term, they are both a couple of Schmeckels!
“This country needs to get away from taxing production, and start taxing consumption.
Not one or the other.”
You make it sound as if consumption was bad or something. It is not. It’s an essential part of the economy and a free market plan would not be biased against one or the other. Otherwise you’re going to end up with a production bubble. You want to have low rates on production and consumption, capital and labor.
Everyone knows it is donkey dung, but the Hussein worshipping media continue to allow their tin god express his lie without much refutation.
If this were Bush, EVERY campaign event would be expressed like this: “Bush, whose so-called fair tax scheme has been repeatedly called a hoax by economists, went to Seattle today....”
With the added benefit that EVERYONE pay's into the system, here legally or not.
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