Also, assets/net worth are not taxed. Now that Buffet has built his personal stash, he merely cuts the rungs off the ladder behind him
If he REALLY thinks the rich have been under-taxed, he should kick in 35% of his existing fortune. Hypocrite.
We’ve had one for, what?, 20 years?
Pay your own “fair share” of taxes first, you Communist SOB.
Okay, folks, repeat after me:
Income tax is a tax on GETTING rich, not on BEING rich.
IIRC, if gubmint took 100% of the wealth of people making
1 million+, it would run the gubmint for what...3 months?
Is he talking about replacing the current Alternative Minimum Tax?
Would his replacement be indexed for inflation, as the AMT was not?
Exactly. Anybody guess what the base tax rate is sans deductions?
How about getting rid of the deduction industries?
How about a 70% tax on Hollywood idiots?
Dear Mr. Buffett:
After Buffet pays the six billion he owes the IRS, then he might have credibility.
What the Hell was the Alternative Minimum Tax for?
First of all, Warren, call off the lawyers that are challenging a $2 BILLION (?) tax bill you owe to the government for the past 10 years. Dont lecture those who PAID their 2002-2008 taxes, Warren.
Second of all, you are not advocating for a wealth tax, are you? Wealth well-sheltered is what sustains your luxurious lifestyle, Income taxes are for working peasants who have to eat some of the seed corn. I would enjoy watching barry and the IRS find your wealth and take 30% of it- what say you? Why not just give it up?
We know you take a “salary” of $100,000 out of your wealth, so get real or shut up
Warren Buffett is trying to chase high earners out of the country. He, and the kenyan, think the USA doesn’t need their capital or their businesses. Or perhaps high axes on wealthy people will be shortly followed by severe exchange controls. If there is even a hint of that indigenous capital will disappear immediately, electronically gone to sunnier climes.
Unemployment can only increase until the government starts a true policy of full employment such as the USSR had.
If that leftist freak Buffet really wants to pay more of his money to the US Treasury, NOTHING AT ALL stops him from writing a check and dropping it in the mail.
You, Gates, Trump, the Kennedys, John Kerry, the UAW pension funds...step forward and prepare to hand it over. :)
The two big "dodges" are tax free municipal bonds and capital gains. The first is really just a subsidy to the cities and states issuing them. If they weren't tax free then the localities issuing them would have to pay the market rate for borrowing rather than the market rate minus the top tax rate. Those who invest in them would end up netting the same amount.
The second "dodge" is capital gains. The lower rate is a combination of social policy promoting investment over consumption and a half-assed way to adjust for inflation. Personally I would rather have a consumption tax instead of an income tax to eliminate the social engineering push for investment. And if you do keep an income tax, minimize the rates and progressivity and explicitly tax capital gains only above the inflation rate. If you just keep up with inflation then you owe nothing.
Uhh, wouldn’t be a tax CUT for those with incomes in the highest income tax bracket?
hmmmm......he sure is a dependable liberal fop....... I’m trying to figure this out... Is there a live boy or a dead girl in his past.
Warren, shut up and just write a big check already!
Such a whiner!