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Thread: White House Tax Plan Would Ask More of Millionaires

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    Buffett blasts system that lets him pay less tax than secretary - Times Online

    Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent.

    again that is a lie because someone in the 60K range is in the 25% marginal rate.

    and her overall tax rate is far far lower than 25%

    the only way he can be correct is that she pays 25% on her next dollar and he 18% but that is because he has a DIFFERENT TYPE OF INCOME

    his LIKE INCOME-salary is taxed much higher than hers
    He said he was taxed at 17.7% while his secretary was taxed at 30%. Do you believe the only tax that exists is the narrowly defined tax which as you point out would put her in the 25% marginal bracket?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by pbrauer View Post
    I thought you voted for Bush, am I wrong? I'm happy I voted for Obama, if McCain were elected we would probably have bomb, bomb, bombed Iran by now.
    Yeah, I voted for Bush vs. Gore and I voted for Bush vs. Kerry. Would do it again, and again, and again. Seems that the results actually are different than what you believe. Bush was doing quite well until Democrats took control of the Congress. I welcome you putting the Obama and Bush results side by side for total comparison. Let me start, Bush had a net job gain, Obama a net job loss, Bush had a declining misery index, Obama has a rising misery index, Bush had a net labor force increase and Obama has more and more dropping out of the labor force, and all this in the Bush first term compared to the Obama first term. In addition Bush didn't add 4 trillion to the debt in his first term. Carry on distorting results.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by vvx View Post
    He said he was taxed at 17.7% while his secretary was taxed at 30%. Do you believe the only tax that exists is the narrowly defined tax which as you point out would put her in the 25% marginal bracket?
    are you really ignorant of earned income vs capital gains taxes. She is in the 25% bracket for income taxes meaning her effective rate is far less than that



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    are you really ignorant of earned income vs capital gains taxes. She is in the 25% bracket for income taxes meaning her effective rate is far less than that
    I'm not talking capital gains vs ordinary income. Buffet continues to mention payroll taxes. Do you understand that the federal income tax is not the only tax in existence? You must be, after all you oppose the "Death tax". Are those the only two taxes that you recognize?

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by vvx View Post
    I'm not talking capital gains vs ordinary income. Buffet continues to mention payroll taxes. Do you understand that the federal income tax is not the only tax in existence? You must be, after all you oppose the "Death tax". Are those the only two taxes that you recognize?


    vvx, you need to stop when you are way behind. Payroll taxes are SS and Medicare with everyone paying the same rate. That is a loser for you. this is all about income taxes and the passion some have for raising taxes is quite disturbing because what you are saying is that you want send more money to the politicians that have created this mess which makes no sense. Why do you and others care what someone else pays in taxes. There is no logic in this argument, first of all as has been pointed out Buffett and his secretary pay the same tax rate if they make similar ordinary income. Buffett's salary is reported to be 100k and if his secretary is 100k she/he pays the same rate. If she is making 60k she is paying less than Buffett in tax rates. Finally if she is making investment income she pays the same rate as Buffett as well, 15% capital gains, so not sure what you are even talking about but I do know that Buffett and obama are lying.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by vvx View Post
    I'm not talking capital gains vs ordinary income. Buffet continues to mention payroll taxes. Do you understand that the federal income tax is not the only tax in existence? You must be, after all you oppose the "Death tax". Are those the only two taxes that you recognize?
    payroll taxes-aka the contributions for SS and MC were never intended to be general taxes. try again



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    are you really ignorant of earned income vs capital gains taxes. She is in the 25% bracket for income taxes meaning her effective rate is far less than that
    This happens all the time and it really isn't worth argueing. He was making a generalizations to make a point. That her actual tax ends up being 20% is moot.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by 1Perry View Post
    This happens all the time and it really isn't worth argueing. He was making a generalizations to make a point. That her actual tax ends up being 20% is moot.
    he's trying to support the dems and Obama with being less than Honest.



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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by TurtleDude View Post
    he's trying to support the dems and Obama with being less than Honest.
    His point is perfectly clear. Obviously you are blinded by envy and jealousy.

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    Re: White House Tax Plan Would Ask More of Millionaires

    Quote Originally Posted by AdamT View Post
    His point is perfectly clear. Obviously you are blinded by envy and jealousy.
    His point is perfectly clear, he is promoting class warfare and you continue to buy the lies of this Administration. You have so much passion for an expanded central govt. and all the waste, fraud, and abuse that govt. creates. The question is why?

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