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Re: Dem vs Rep Tax Cut Plan in Graph form!
Wonder how much Warren Buffet would pay in taxes if he didn't donate most of his income to charity? Given the opportunity I will recommend to him that he stop donating to local charities so he can give more money to the govt. so that the govt. can send the money back to local charities.
In fact all those evil rich people need to do the same thing, stop giving to charities letting those charities fend for themselves, pay higher taxes so that the bureaucrats in D.C. can handle the money and send it to the charities they deem worthy, democrat constituent groups.
Concerning 401k and IRA investing, when the average guy withdraws that, he pays a tax rate based on AGI for the year, which for me and my wife was up in the 34% range 2 years ago, and that is whether the account earned money, or lost money. Our income was part earned, and part unearned. We paid SS on the earned portion.
The rich invest in regular accounts, their profits are capital gains on unearned income, and get a preferred tax rate of 15%. They don't pay into SS on unearned income.
Warren Buffet says his employees pay a higher tax rate than he does...
The rich have the politicians in their pockets, while the gullible middle class have no pockets. A lot of middle class demand tax cuts that will save them a few hundred a year, but save the uber rich a few hundred thousand a year, or more....
And for those "conservatives" who think I envy the rich, the wife and I have plenty of assets and our retirement income accumulates faster than we can spend it.
Wonder how much Warren Buffet would pay in taxes if he didn't donate most of his income to charity? Given the opportunity I will recommend to him that he stop donating to local charities so he can give more money to the govt. so that the govt. can send the money back to local charities.
In fact all those evil rich people need to do the same thing, stop giving to charities letting those charities fend for themselves, pay higher taxes so that the bureaucrats in D.C. can handle the money and send it to the charities they deem worthy, democrat constituent groups.