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Warren Buffett releases tax figures to GOP

Catawba said:
I am saying there is zero evidence that he has illegally avoided taxes, while there is verifiable evidence that he has petitioned to have his taxes increased.
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nobody has claimed that his tax avoidance is illegal... and to be quite honest, he doesn't have ot petition anyone to raise his taxes.... it's his checkbook, he can raise his own taxes if he wanted to.
there is no maximum limit of taxes you can pay.. if you owe 10 bucks, you can give uncle same 20 bucks if ya really want to.
there is also no requirement to take deductions... they are available, but you are not forced to use them.


I'm not sure why you would break out the "Patriot" card though... that's seems rather senseless to me.
paying taxes has nothing to do with patriotism.
 
Catawba said:
I am saying there is zero evidence that he has illegally avoided taxes, while there is verifiable evidence that he has petitioned to have his taxes increased.
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Nice red herring using "illegal" - I've never claimed it was illegal, I'm claiming Buffet's a hypocrite - which is also not illegal. Care to try and change the subject again? :lamo
 
Ockham said:
Nice red herring using "illegal" - I've never claimed it was illegal, I'm claiming Buffet's a hypocrite - which is also not illegal. Care to try and change the subject again? :lamo
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If that is your claim, provide your proof, because you have not shown that Buffett is a hypocrite. Also, please explain why Buffett petitioned to have his taxes increased, if he wished to avoid paying taxes?
 
Catawba said:
If that is your claim, provide your proof, because you have not shown that Buffett is a hypocrite. Also, please explain why Buffett petitioned to have his taxes increased, if he wished to avoid paying taxes?
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He utilizes every legal means to pay fewer taxes on his companies profits, which, due to the fact that he owns that company, equals, at the end of the day, his income. Meaning, the bulk of his actual income is not affected by his proposal to increase taxes on the wealthy, making him a hypocrite.
 
Thrilla said:
nobody has claimed that his tax avoidance is illegal... and to be quite honest, he doesn't have ot petition anyone to raise his taxes.... it's his checkbook, he can raise his own taxes if he wanted to.
there is no maximum limit of taxes you can pay.. if you owe 10 bucks, you can give uncle same 20 bucks if ya really want to.
there is also no requirement to take deductions... they are available, but you are not forced to use them.
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One person sending in his fair share of taxes is not going to fix debt caused by 30 years of tax breaks for the wealthy.


I'm not sure why you would break out the "Patriot" card though... that's seems rather senseless to me.
paying taxes has nothing to do with patriotism.
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Putting country and your fellow citizens before greed is patriotism in my book.
 
KevinKohler said:
He utilizes every legal means to pay fewer taxes on his companies profits, which, due to the fact that he owns that company, equals, at the end of the day, his income. Meaning, the bulk of his actual income is not affected by his proposal to increase taxes on the wealthy, making him a hypocrite.
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"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"
Warren Buffet has a lower tax rate than his secretary | The Unofficial Stanford Blog

You do understand that anyone who's income is primarily from investments, pays a lower tax rate than the middle class, right?
 
Catawba said:
"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"
Warren Buffet has a lower tax rate than his secretary | The Unofficial Stanford Blog

You do understand that anyone who's income is primarily from investments, pays a lower tax rate than the middle class, right?
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And due to the laws ALREADY IN PLACE, that was all he was held liable for. Because he is already utilizing the existing loopholes for profits to avoid taxation. Do you honestly think his company only made what he paid his employees plus 46 million this year, lol????
 
KevinKohler said:
And due to the laws ALREADY IN PLACE, that was all he was held liable for. Because he is already utilizing the existing loopholes for profits to avoid taxation. Do you honestly think his company only made what he paid his employees plus 46 million this year, lol????
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Not really interested in your speculation, but thanks just the same!
 
They won't accept this. They'll spin and spin....
 
washunut said:
We should remember that what Buffet proposed and what Obama proposed are materially different.
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Show us the final version of Obama's tax proposal please.
 
The reduced tax rates for capital gains are now considered a loop hole?

I think I just wet myself. Let's close that loophole ASAP! Income is income, let's tax it the same.
 
Reg said:
Buffet could direct Berkshire to pay its taxes if he wanted it so.
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Berkshire is not delinquent on its taxes. Don't make me post my long explanation of deferred taxes and tax accounting again.
 
They are disputing, i.e., refusing to pay taxes for four out of the last ten tax years.

I didn't say delinquent.

I don't do word dances.
 
Catawba said:
Show us the final version of Obama's tax proposal please.
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Are you disputing that Obama wants to change taxes for people above $250K versus the $1 million that Buffet discusses?
 
Reg said:
They are disputing, i.e., refusing to pay taxes for four out of the last ten tax years.

I didn't say delinquent.

I don't do word dances.
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Virtually every company that has a $30B deferred tax liability is under constant audit from the IRS. In fact, the IRS often have offices on the premise. They are in constant dispute, particularly when they have very complex businesses (acquisitions, insurance and railroads) are extremely complex. Sorry, but there is zero issue here. It's a bit analogous to seeing an accounts payable on the balance sheet and arguing they aren't paying their bills.

http://www.debatepolitics.com/break...going-back-2002-edited-23.html#post1059871774
 
Doesn't change the fact that Berkshire's tax liability is in dispute.

All the more reason for him to shut his wrinkled pie hole about what anyone else pays.
 
MaggieD said:
He's playing the system. I know, I've done it myself. Here's how it works: You pay yourself a pittance in salary, thus exposing a very small amount of money to ordinary income tax, social security and medicare. He only pays himself a salary of $100,000 a year. Warren Buffett's Effective Federal Income Tax Rate Was Just 11% - Forbes

He takes his income from Berkshire Hathaway in the form of dividends rather than salary
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Berkshire Hathaway doesn't pay dividends.
 
washunut said:
Are you disputing that Obama wants to change taxes for people above $250K versus the $1 million that Buffet discusses?
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I haven't seen any current proposals from the President with a $250K threshold since he had the meeting with Buffett and decided to go with the Buffett rule. Perhaps I missed it, could you provide a source?
 
Catawba said:
I haven't seen any current proposals from the President with a $250K threshold since he had the meeting with Buffett and decided to go with the Buffett rule. Perhaps I missed it, could you provide a source?
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Obama doesn't have a plan, and never will. All he does is campaign against everyone else's.
 
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