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

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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)
    That's not true.

    Your boy said: "People making less than $200,000 a year will see their taxes go down".
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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

    Quote Originally Posted by rivrrat View Post
    Great. So he thinks the government should take even more money away from people. Big whoop, that doesn't make him any different than any other high-tax liberal.
    Unfortunately, our government has not curtailed it's spending, and is deeply in debt. In order to stabilize the economy, 2 things are going to have to happen:

    1) Curtail spending: That is obvious.

    2) Raise taxes to help reduce the deficit.

    Both steps need to be done. "But why should I pay" you ask? The answer is very simple. You and I did not hold our government accountable for it's actions, and therefore we the people also bear responsibility.
    The ghost of Jack Kevorkian for President's Physician: 2016

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

    It's people like Warren Buffet that make me wish for a law that says You First. If you want the rest of the country to do some act, like raising taxes, then they should be the first one to see how it works. This should go for politicians as well. You want public education without vouchers then stop sending your kids to private school and send them to a public school. You want to raise taxes then you live your life according to the amount you want everyone else to pay. Just call me a member of the You First Brigade.

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

    Quote Originally Posted by danarhea View Post
    Unfortunately, our government has not curtailed it's spending, and is deeply in debt. In order to stabilize the economy, 2 things are going to have to happen:

    1) Curtail spending: That is obvious.

    2) Raise taxes to help reduce the deficit.

    Both steps need to be done. "But why should I pay" you ask? The answer is very simple. You and I did not hold our government accountable for it's actions, and therefore we the people also bear responsibility.
    that's a good point-but the people that the dems want to pay are only a small minority-not the people who have been voting for years for more spending. I have said it for years, until the middle class and lower classes get zapped every time the government spends recklessly, that massive amount of voters won't vote against irresponsible spending politicians.

    taxes should not be withheld but people should pay quarterly taxes as I do on much of my income and one of the payments should be the week before elections.



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

    Quote Originally Posted by The_Patriot View Post
    It's people like Warren Buffet that make me wish for a law that says You First. If you want the rest of the country to do some act, like raising taxes, then they should be the first one to see how it works. This should go for politicians as well. You want public education without vouchers then stop sending your kids to private school and send them to a public school. You want to raise taxes then you live your life according to the amount you want everyone else to pay. Just call me a member of the You First Brigade.
    this board is filled with the posts of several members who constantly howl for tax hikes on others coupled with the idiotic claims that "the rich" need to pay more because they can afford massive tax hikes. If those people are willing to pay 40C on every additional dollar they make starting Jan 1, then they might have some credibility. If they are willing to see half of what their estate is worth taken by the government then they can clamor for death confiscation taxes.



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

    Quote Originally Posted by Solidus View Post
    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
    I feel that if the top 1% are going to control, what is the exact figure, around 90% of the national income, then they should pay 75% of the taxes. Ultimately, it would be the fairest system if we had a flat tax of say 20%, but for some reason this has never caught on.

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

    Quote Originally Posted by tlmorg02 View Post
    I feel that if the top 1% are going to control, what is the exact figure, around 90% of the national income, then they should pay 75% of the taxes. Ultimately, it would be the fairest system if we had a flat tax of say 20%, but for some reason this has never caught on.
    the problem is that the top 1% get only 22% of the national income yet pay 40% of the national income tax because they have to balance the slugs who pay ZERO percent of the income tax and certainly have far more than ZERO of the natinal income.



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

    Quote Originally Posted by apdst View Post
    That's not true.

    Your boy said: "People making less than $200,000 a year will see their taxes go down".
    Well, first off that's not what you said before. You said the taxes on someone making 200k/year would go up. You hadn't mentioned what "my boy" had said.

    Also:
    [citation needed]

    Where did he say this, and when? Referring to what?
    Last edited by Deuce; 10-08-10 at 08:14 PM.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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

    Quote Originally Posted by tlmorg02 View Post
    I feel that if the top 1% are going to control, what is the exact figure, around 90% of the national income, then they should pay 75% of the taxes. Ultimately, it would be the fairest system if we had a flat tax of say 20%, but for some reason this has never caught on.
    Well, first off if they have 90% of the income, a flat tax would have them paying 90% of the taxes

    Second, poor people have to spend a disproportionate amount of their income on basic necessities, while a rich person has more discretionary income which they can save and invest, earning interest on. Therefore, adding $1000 in income to a rich person's income is worth, in essence, more than $1000. (they invest it and earn a return) Hence the basic reasoning for a progressive tax setup. Adding $1000 in income to a poor person just makes them a little less poor.

    Someone making $10,000 per year with two kids to support can't really afford to pay any of it in taxes. The same cannot be said of someone making $100,000 per year.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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

    Quote Originally Posted by tlmorg02 View Post
    I feel that if the top 1% are going to control, what is the exact figure, around 90% of the national income, then they should pay 75% of the taxes.
    If you mandate that those people foot the bills, then you're ultimately giving them sole ownership of all that wealth and that would be self defeating.

    Ultimately, it would be the fairest system if we had a flat tax of say 20%, but for some reason this has never caught on.
    It hasn't caught on, because there are too many voters who don't pay any taxes.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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