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Thread: Warren Buffett: Raise Taxes On The "Very Rich"

  1. #21
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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by apdst View Post
    Why do you support raising their taxes, then?
    I don't, and from everything I have read their taxes will not go up.

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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by tlmorg02 View Post
    I don't, and from everything I have read their taxes will not go up.
    You're not reading the right stuff. When the tax cuts expire, taxes on anyone making $200,000 a year, coporations will go up.
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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    I appologize in advance for the math phrasing but, tlmorg02, if you could indulge me in the following.

    For the top 1% bracket, or alternately the 5 quintiles of taxpayers:
    Define "Y", where "Y" is percentage of income paid in federal taxes that satisfies your definition of "reasonable".
    Define "F(x)", where "x" is share of national income such that "Y=F(x)"

    I don't expect a purely mathematically phrased answer. For example my response would be, "A reasonable share of federal taxes as a percentage of income is when that share equals the share of national income". Alternately, F(x) = x so that Y=x.

    J

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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by apdst View Post
    You're not reading the right stuff. When the tax cuts expire, taxes on anyone making $200,000 a year, coporations will go up.
    A person making 200k per year will see their income taxes go up zero dollars. (assuming the lower end tax cuts get extended as planned. did they vote on that yet? I think they went to break first)
    Last edited by Deuce; 10-07-10 at 08:34 PM.
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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by pbrauer View Post
    That has to be one of the silliest posts I've seen lately.
    what is silly is watching you constantly trying to justify other people paying more taxes. I find that pathetic. Tell me my tax hiking friend, are you willing to have 40% tax rates on your income? If not then you have no credibility calling for such rates on other people's income



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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by Deuce View Post
    A person making 200k per year will see their income taxes go up zero dollars. (assuming the lower end tax cuts get extended as planned. did they vote on that yet? I think they went to break first)
    you are lying. if they have any dividend income or capital gains their taxes will go up and the Obama health care scheme will raise their taxes and their social security "contributions" will go up as well



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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by pbrauer View Post
    I do, he is a billionaire who says the wealthy should be paying higher taxes. So far I've only heard from folks who think or wish they will be wealthy some day and don't want to be taxed at all.
    Proof please?
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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by American View Post
    Proof please?
    Are you serious?



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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by TurtleDude View Post
    what is silly is watching you constantly trying to justify other people paying more taxes. I find that pathetic. Tell me my tax hiking friend, are you willing to have 40% tax rates on your income? If not then you have no credibility calling for such rates on other people's income
    There is no one, I repeat no one who pays 40% taxes on their federal income taxes. The super rich pay an effective rate of about 17% on their Adjusted Gross Income. Mind you that's after they have hidden much of their income in tax shelters and in overseas bank accounts.


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    Re: Warren Buffett: Raise Taxes On The "Very Rich"

    Quote Originally Posted by pbrauer View Post
    There is no one, I repeat no one who pays 40% taxes on their federal income taxes. The super rich pay an effective rate of about 17% on their Adjusted Gross Income. Mind you that's after they have hidden much of their income in tax shelters and in overseas bank accounts.
    why do you post such nonsense. Next year the tax rate is going to be 39.6% on both earned income and dividend income for those making over 200K a year. You constantly post this utter BS that most of the rich have hidden their income oversees. That is a complete and utter lie. I want you to prove that and you cannot. like most of the envious libs, you want to lump everyone in the top bracket as being some sort of robber barons. Doctors, lawyers, small business owners, widows of wealthy executives etc make up most of the top 2% and very few of them are doing what you claim.



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