View Poll Results: Should the Buffett Rule" be made law?

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Thread: Should the Buffett Rule" be made law?

  1. #21
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    Re: Should the Buffett Rule" be made law?

    Buffet is a value investor, who can choose to take his profits and pay his taxes on them whenever he pleases. His behavior particularly lately with banks has been embarrassing. (1. invest in a flailing bank. 2. use money and power to get government to bail out flailing bank. 3. profit).

    If Buffet wants to pay more, let him pay what he already owes and then send in a check for the difference of what he thinks he should have paid. then i'll buy it.

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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by hazlnut View Post
    We've got a couple hacks on DP that would like us to believe the rich pay their share... NO ONE who truly understand the tax code would say that.
    that is correct, of course. because our top income earners indeed do pay more than their share. after all, the United States has the Most Progressive Income Tax Structure In The Industrialized World.

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    Re: Should the Buffett Rule" be made law?

    I was about to say that too. America has the 2nd highest effective corporate tax rate in the world, only behind Japan. To say that they're not pulling weight is ludicrous.

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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by cpwill View Post
    not-understanding-double-taxation-fail.

    Please explain when cap gains or interest income was already taxed?


    As to dividend income .... hm. Interesting question. Maybe they should be double taxed. Maybe they should come with a taxes already paid credit. Could be something worth looking into.
    However, your comment is just a general economics fail response.



    BTW, all 'income' by corps was already taxed .... when the consumers bought stuff with them from income they paid taxes on. Maybe dividend income should be the same. Pay taxes on it, offset with whatever expenses you incurred to generate that income.
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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by Gipper View Post
    I was about to say that too. America has the 2nd highest effective corporate tax rate in the world, only behind Japan. To say that they're not pulling weight is ludicrous.
    what about their effective tax rates? are those the highest as well? here's a link to a good paper......

    http://www.cbo.gov/ftpdocs/69xx/doc6...rporateTax.pdf

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by Gipper View Post
    I was about to say that too. America has the 2nd highest effective corporate tax rate in the world, only behind Japan. To say that they're not pulling weight is ludicrous.
    Also, I know many people are concerned with a growing wealth (and even income) stratification here in the United States. Although I think this is a perfectly valid concern, I don’t believe we are going to change the fact that CEOs make an average of $300+ dollars to every $1 dollar their average employee makes (vs. in the 1960’s when the ratio was at about $25 to $1) with the tax code.

    It’s like a political ‘band-aid’ fix that usually will end up reducing gov't revenue in the long-run.

    But as for why the CEO salary ratio has grown so rapidly in the past 50 years is beyond me. As I stated in an earlier thread, I don’t think the CEOs of the 1960’s were any less bright, productive, valuable than they are today, so what else can explain the explosionary growth of the ratio?
    Last edited by David D.; 09-19-11 at 11:11 AM.

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    Re: Should the Buffett Rule" be made law?

    Any chance you could point me to a specific page instead of doing the "lawyer thing" and burying me in paper while expecting me to find what you're looking for?

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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by Gipper View Post
    I was about to say that too. America has the 2nd highest effective corporate tax rate in the world, only behind Japan. To say that they're not pulling weight is ludicrous.

    US Corp tax burden high? No, says Bruce Bartlett:


    May 31, 2011, 6:00 AM
    Are Taxes in the U.S. High or Low?
    By BRUCE BARTLETT


    (snip ... )

    Yet if one listens to Republicans, one would think that taxes have never been higher, that an excessive tax burden is the most important constraint holding back economic growth and that a big tax cut is exactly what the economy needs to get growing again.

    Just last week, House Republicans released a new plan to reduce unemployment. Its principal provision would reduce the top statutory income tax rate on businesses and individuals to 25 percent from 35 percent. No evidence was offered for the Republican argument that cutting taxes for the well-to-do and big corporations would reduce unemployment; it was simply asserted as self-evident.

    One would not know from the Republican document that corporate taxes are expected to raise just 1.3 percent of G.D.P. in revenue this year, about a third of what it was in the 1950s.

    The G.O.P. says global competitiveness requires the United States to reduce its corporate tax rate. But the United States actually has the lowest corporate tax burden of any of the member nations of the Organization for Economic Cooperation and Development.



    more: Bruce Bartlett: Are Taxes in the U.S. High or Low? - NYTimes.com
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  9. #29
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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by Gipper View Post
    Any chance you could point me to a specific page instead of doing the "lawyer thing" and burying me in paper while expecting me to find what you're looking for?

    It has a table of contents. Not hard to check it out.
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  10. #30
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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by David D. View Post
    Also, I know many people are concerned with a growing wealth (and even income) stratification here in the United States. Although I think this is a perfectly valid concern, I don’t believe we are going to change the fact that CEOs make an average of $300+ dollars to every $1 dollar their average employee makes (vs. in the 1960’s when the ratio was at about $25 to $1) with the tax code.

    It’s like a political ‘band-aid’ fix that usually will end up reducing gov't revenue in the long-run.

    But as for why the CEO salary ratio has grown so rapidly in the past 50 years is beyond me. As I stated in an earlier thread, I don’t think the CEOs of the 1960’s were any less bright, productive, valuable than they are today, so what else can explain the explosionary growth of the ratio?

    That's a good question. I don't know the answer. American CEOs get paid much more than their overseas counterparts. Maybe it's something in the corporate governance charters? I really don't know.
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