[mckenzie7]

Shouldn't the patriotic billionaire just donate that much to the government?

Could they perhaps believe that they could better help others than the government?

Do they think that government just squanders money?

If Buffett is making policy, shouldn't we see his tax records?

[Mad_as_heck]

I think every millionaire in this country would be very, very wise to invest 30% of their income this year in defeating Obama. They will never get a better return on an investment.

[greeneyes]

The 1% as a group, already pay tax rates at about 32%, according to IRS tables and (Heritage Foundation also tracks some of this stuff). One of Obama’s lies is that they are not paying their fair share.

Another Obama lie is that rich people only pay 15% on their income, due to low rate of taxes on dividends. People receiving dividends(including middle class people) are not just paying 15%.

That is a misunderstanding that people who do not have a tax background have and lack of understanding about how the different forms of business pay taxes. 2 examples:

A sole proprietor(owner) pays the taxes on his company's income and what ever is left over he gets to spend.

A corporation pays the taxes on the owner's(shareholder's) income and whatever is left over (if distributed as dividends) gets hit with an additional 15%.

That's why people say dividend taxes are double taxation. .

BUFFET LIEs EXPOSED.

Warren Buffet's company pays around 30% tax rate(most recent info availabale) he pays 15% on the dividends(That's 45% on that portion). He also pays ordinary income on his salary of $100,000 and whatever he makes as director fees.(less than 45% on the wages portion)

In his claim that he pays a higher rate than his secretary he ignores the 30% paid by the company for his share, and he inflates the secretary's rate by also assigning her the employer's share of FICA taxes for a total of 15% FICA TAXES plus whatever she pays on her $60,000 salary.

Furthermore, the income tax hikes that Obama originally talked about would have done nothing to make Buffet pay more, because he doesn't take more than $100,000 in wages/salary per year anyway. Don't fall for Obama B.S. and lies.

[pieceofthepuzzle]

“Shouldn't the patriotic billionaire just donate that much to the government?”

Let's go further Obama and Buffett. Let's take 30% per year from the assets (not ‘income’) of anyone who is worth more than $500 million. It's only fair. Let's take 30% of Mr. Buffett’s total worth every year until he's worth less than $500 million. Then we can stop. That's fair, isn't it? After all, who needs more than $500 million?