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

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    44 66.67%
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    17 25.76%
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Thread: Should the Buffett Rule" be made law?

  1. #61
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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by Luna Tick View Post
    The middle class creates jobs by creating demand and having money to pay for it
    yeah? where'd they get that money?

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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by cpwill View Post
    If Buffet wants to pay more, nobody is stopping him from sending in a check.
    Are you saying that if a person wants to pay taxes, they should, otherwise they shouldn't?


  3. #63
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    Re: Should the Buffett Rule" be made law?

    I voted yes. Within the past year I have changed my position somewhat, and have become convinced that it is fundamentally wrong for Buffet to pay 15-20% while one of his middle-managers making 50k a year pays a much higher percentage, just because Buffet/Heines-Kerry/Soros/etc's income has been artfully arrainged to be mostly "cap gains".

    If the struggling small businessman who owns one Chick-Fil-A has to pay 30-40% or more, then Warren Buffet and Heines-Kerry and Soros should pay that much percentagewise.

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    Re: Should the Buffett Rule" be made law?

    no, I am saying if they think that they don't pay enough taxes (as Buffet and Obama both often claim), then the US Treasury takes donations that it puts towards paying down the debt. simply mail the check to:

    ATTN DEPT G
    BUREAU OF THE PUBLIC DEBT
    P O BOX 2188
    PARKERSBURG, WV 26106-2188

    and all of Buffets' guilt can be washed clean without him having to take from others.

  5. #65
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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by Goshin View Post
    I voted yes. Within the past year I have changed my position somewhat, and have become convinced that it is fundamentally wrong for Buffet to pay 15-20% while one of his middle-managers making 50k a year pays a much higher percentage, just because Buffet/Heines-Kerry/Soros/etc's income has been artfully arrainged to be mostly "cap gains".

    If the struggling small businessman who owns one Chick-Fil-A has to pay 30-40% or more, then Warren Buffet and Heines-Kerry and Soros should pay that much percentagewise.
    I highly doubt that the Chick-Fil-A guy pays the full rate and he likely takes a series of tax deductions.
    Depends on how the business is organized though.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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  6. #66
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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by cpwill View Post
    no, I am saying if they think that they don't pay enough taxes (as Buffet and Obama both often claim), then the US Treasury takes donations that it puts towards paying down the debt. simply mail the check to:

    ATTN DEPT G
    BUREAU OF THE PUBLIC DEBT
    P O BOX 2188
    PARKERSBURG, WV 26106-2188

    and all of Buffets' guilt can be washed clean without him having to take from others.
    Bush cut taxes and started two wars, don't you think the rich should pay more since they benefited from them?


  7. #67
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    Re: Should the Buffett Rule" be made law?

    If the struggling small businessman who owns one Chick-Fil-A has to pay 30-40% or more, then Warren Buffet and Heines-Kerry and Soros should pay that much percentagewise.
    If he's paying that much more, his accountant sucks.

    Having a good accountant helps.

  8. #68
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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by cpwill View Post
    no, I am saying if they think that they don't pay enough taxes (as Buffet and Obama both often claim), then the US Treasury takes donations that it puts towards paying down the debt. simply mail the check to:

    ATTN DEPT G
    BUREAU OF THE PUBLIC DEBT
    P O BOX 2188
    PARKERSBURG, WV 26106-2188

    and all of Buffets' guilt can be washed clean without him having to take from others.
    It is this type of comment that mis-characterizes Buffets position (it has nothing to do with guilt). So while it may sound "cute" to tell people to pay more to the treasury than they are liable whenever someone, especially when it is someone with the authority of Mr. Buffet, brings up tax increases, your idea (or lack there of) is simply not grounded in economic reality.

    The issue is a diminishing ability to repay our debts due to a general lack of revenue. This is not solved by asking people to pay more in taxes without enacting legislation that makes it an actual requirement. Why? Because nobody is going to pay more than they are legally liable to pay.

    A tax increase for the wealthiest Americans is the least painful (when considering how tax increases impact output) way to boost federal tax revenue. Tax revenue @ 15% of total output simply will not cut it.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Should the Buffett Rule" be made law?

    Isn't there a limit on how much you can claim as capital gains though?

  10. #70
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    Re: Should the Buffett Rule" be made law?

    Quote Originally Posted by Gipper View Post
    Isn't there a limit on how much you can claim as capital gains though?
    There isn't a limit on capital gains, but there is a limit on capital loss and how it can alter current (and future) tax liabilities.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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