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White House Tax Plan Would Ask More of Millionaires

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Buffett blasts system that lets him pay less tax than secretary - Times Online

Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent.

again that is a lie because someone in the 60K range is in the 25% marginal rate.

and her overall tax rate is far far lower than 25%

the only way he can be correct is that she pays 25% on her next dollar and he 18% but that is because he has a DIFFERENT TYPE OF INCOME

his LIKE INCOME-salary is taxed much higher than hers

He said he was taxed at 17.7% while his secretary was taxed at 30%. Do you believe the only tax that exists is the narrowly defined tax which as you point out would put her in the 25% marginal bracket?
 
I thought you voted for Bush, am I wrong? I'm happy I voted for Obama, if McCain were elected we would probably have bomb, bomb, bombed Iran by now.

Yeah, I voted for Bush vs. Gore and I voted for Bush vs. Kerry. Would do it again, and again, and again. Seems that the results actually are different than what you believe. Bush was doing quite well until Democrats took control of the Congress. I welcome you putting the Obama and Bush results side by side for total comparison. Let me start, Bush had a net job gain, Obama a net job loss, Bush had a declining misery index, Obama has a rising misery index, Bush had a net labor force increase and Obama has more and more dropping out of the labor force, and all this in the Bush first term compared to the Obama first term. In addition Bush didn't add 4 trillion to the debt in his first term. Carry on distorting results.
 
He said he was taxed at 17.7% while his secretary was taxed at 30%. Do you believe the only tax that exists is the narrowly defined tax which as you point out would put her in the 25% marginal bracket?

are you really ignorant of earned income vs capital gains taxes. She is in the 25% bracket for income taxes meaning her effective rate is far less than that
 
are you really ignorant of earned income vs capital gains taxes. She is in the 25% bracket for income taxes meaning her effective rate is far less than that

I'm not talking capital gains vs ordinary income. Buffet continues to mention payroll taxes. Do you understand that the federal income tax is not the only tax in existence? You must be, after all you oppose the "Death tax". Are those the only two taxes that you recognize?
 
I'm not talking capital gains vs ordinary income. Buffet continues to mention payroll taxes. Do you understand that the federal income tax is not the only tax in existence? You must be, after all you oppose the "Death tax". Are those the only two taxes that you recognize?



vvx, you need to stop when you are way behind. Payroll taxes are SS and Medicare with everyone paying the same rate. That is a loser for you. this is all about income taxes and the passion some have for raising taxes is quite disturbing because what you are saying is that you want send more money to the politicians that have created this mess which makes no sense. Why do you and others care what someone else pays in taxes. There is no logic in this argument, first of all as has been pointed out Buffett and his secretary pay the same tax rate if they make similar ordinary income. Buffett's salary is reported to be 100k and if his secretary is 100k she/he pays the same rate. If she is making 60k she is paying less than Buffett in tax rates. Finally if she is making investment income she pays the same rate as Buffett as well, 15% capital gains, so not sure what you are even talking about but I do know that Buffett and obama are lying.
 
I'm not talking capital gains vs ordinary income. Buffet continues to mention payroll taxes. Do you understand that the federal income tax is not the only tax in existence? You must be, after all you oppose the "Death tax". Are those the only two taxes that you recognize?

payroll taxes-aka the contributions for SS and MC were never intended to be general taxes. try again
 
are you really ignorant of earned income vs capital gains taxes. She is in the 25% bracket for income taxes meaning her effective rate is far less than that

This happens all the time and it really isn't worth argueing. He was making a generalizations to make a point. That her actual tax ends up being 20% is moot.
 
This happens all the time and it really isn't worth argueing. He was making a generalizations to make a point. That her actual tax ends up being 20% is moot.

he's trying to support the dems and Obama with being less than Honest.
 
he's trying to support the dems and Obama with being less than Honest.

His point is perfectly clear. Obviously you are blinded by envy and jealousy.
 
His point is perfectly clear. Obviously you are blinded by envy and jealousy.

His point is perfectly clear, he is promoting class warfare and you continue to buy the lies of this Administration. You have so much passion for an expanded central govt. and all the waste, fraud, and abuse that govt. creates. The question is why?
 
vvx, you need to stop when you are way behind. Payroll taxes are SS and Medicare with everyone paying the same rate. That is a loser for you. this is all about income taxes and the passion some have for raising taxes is quite disturbing because what you are saying is that you want send more money to the politicians that have created this mess which makes no sense. Why do you and others care what someone else pays in taxes. There is no logic in this argument, first of all as has been pointed out Buffett and his secretary pay the same tax rate if they make similar ordinary income. Buffett's salary is reported to be 100k and if his secretary is 100k she/he pays the same rate. If she is making 60k she is paying less than Buffett in tax rates. Finally if she is making investment income she pays the same rate as Buffett as well, 15% capital gains, so not sure what you are even talking about but I do know that Buffett and obama are lying.

I assume you have not taken the time to read Warren Buffet's argument then. It is an interesting way to approach things. Really, it won't take you very long. Give it a shot.

"To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

Notice that he includes payroll taxes? Maybe you should stop while you are way behind, at least until you read the argument and understand what Warren Buffet is saying.

Now, if you want to change the system so that payroll taxes are "SS and Medicare with everyone paying the same rate" with no ceilings and on all types of income, hey, I'll support you 100%. Bring on SS / Medicare tax on capital gains! Here here! (Is that not what you meant?)
 
payroll taxes-aka the contributions for SS and MC were never intended to be general taxes. try again

Try reading Warren Buffet's argument.

"To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

He includes payroll taxes. Whodathunkit?
 
Try reading Warren Buffet's argument.

"To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

He includes payroll taxes. Whodathunkit?

while I think buffett is an arrogant sanctimonious asshole he also pays far more taxes than most people and if he wants to pay more that is his business But he shouldn't demand others pay even more just because he is cyberfellating obama and the dems
 
vvx, you need to stop when you are way behind.

Has not stopped you yet

Payroll taxes are SS and Medicare with everyone paying the same rate. That is a loser for you.

This is not true. FICA is capped, which means that those who make over the cap pay a lower rate

this is all about income taxes and the passion some have for raising taxes is quite disturbing because what you are saying is that you want send more money to the politicians that have created this mess which makes no sense. Why do you and others care what someone else pays in taxes. There is no logic in this argument, first of all as has been pointed out Buffett and his secretary pay the same tax rate if they make similar ordinary income.

Niether Buffett nor his secretary are you, so why do you care what they pay?

Buffett's salary is reported to be 100k and if his secretary is 100k she/he pays the same rate. If she is making 60k she is paying less than Buffett in tax rates. Finally if she is making investment income she pays the same rate as Buffett as well, 15% capital gains, so not sure what you are even talking about but I do know that Buffett and obama are lying.

Salary is not the same thing as income. Further, the issue is how much of each's income is of what type. Effective tax rate = amount paid in taxes divided by the income. Since they are talking about effective tax rates, they are in fact correct. How many times do you need to have people explain this to you?
 
I assume you have not taken the time to read Warren Buffet's argument then. It is an interesting way to approach things. Really, it won't take you very long. Give it a shot.

"To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

Notice that he includes payroll taxes? Maybe you should stop while you are way behind, at least until you read the argument and understand what Warren Buffet is saying.

Now, if you want to change the system so that payroll taxes are "SS and Medicare with everyone paying the same rate" with no ceilings and on all types of income, hey, I'll support you 100%. Bring on SS / Medicare tax on capital gains! Here here! (Is that not what you meant?)

You need to separate income taxes from payroll taxes as there is no comparison. Payroll taxes are supposed to go to SS and Medicare not to general expenses even though that is where that money is going now.

SS and Medicare come back to the middle class so that argument is bogus. Income taxes however get back to the people in the form of services and right now about 65 million people(47% of 140 million income earners) don't pay ANY FIT.

If you continue to buy SS/Medicare as being part of the tax burden then you are fighting a losing argument.
 
Try reading Warren Buffet's argument.

"To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot."

He includes payroll taxes. Whodathunkit?

payroll taxes were never intended to be either totally progressive or a general revenue tax

its as as idiotic as saying that its wrong that say a drivers' license fee is not progressive

FICA was never intended to be what it is now
 
His point is perfectly clear, he is promoting class warfare and you continue to buy the lies of this Administration. You have so much passion for an expanded central govt. and all the waste, fraud, and abuse that govt. creates. The question is why?

Rhetoric and spin, the tools for those who don't have facts and logic on their side.
 
You need to separate income taxes from payroll taxes as there is no comparison. Payroll taxes are supposed to go to SS and Medicare not to general expenses even though that is where that money is going now.

SS and Medicare come back to the middle class so that argument is bogus. Income taxes however get back to the people in the form of services and right now about 65 million people(47% of 140 million income earners) don't pay ANY FIT.

If you continue to buy SS/Medicare as being part of the tax burden then you are fighting a losing argument.

Libs tend to ignore reality in their desire to justify more class warfare and more taxes on the rich

its actually 51% now that don't pay income taxes.

and trying to use FICA or SS "Taxes" to justify this class warfare nonsense is idiotic as you noted
 
while I think buffett is an arrogant sanctimonious asshole he also pays far more taxes than most people and if he wants to pay more that is his business But he shouldn't demand others pay even more just because he is cyberfellating obama and the dems

Why are you spending so much time cyberfellating the republicans?

So how easy it is to make such a stupid argument and how easy it is to beat?
 
Rhetoric and spin, the tools for those who don't have facts and logic on their side.

agreed, like pretending that earned income and investment income are the same or that FICA contributions/taxes are part of the income tax equation.

do you believe that Buffett is spewing this (he is a proclaimed dem) for altruistic reasons?
 
Libs tend to ignore reality in their desire to justify more class warfare and more taxes on the rich

its actually 51% now that don't pay income taxes.

and trying to use FICA or SS "Taxes" to justify this class warfare nonsense is idiotic as you noted

Conservatives tend to eschew logic and facts and go strictly with overblown rhetoric.

Again, see how easy this is? See how stupid it is?
 
Why are you spending so much time cyberfellating the republicans?

So how easy it is to make such a stupid argument and how easy it is to beat?

Its in my self interest. Just like cyberfellating the dems is in Buffett's best interest

and I am not engaged in any such worship or nonsense
 
payroll taxes were never intended to be either totally progressive or a general revenue tax

its as as idiotic as saying that its wrong that say a drivers' license fee is not progressive

FICA was never intended to be what it is now

Exactly right, payroll taxes are SS and Medicare and have nothing to do with FIT nor should they. It is a bogus argument on the part of liberals who are filled with jealousy over what someone else makes and never feels others pay enough in taxes.

How can anyone not understand payroll taxes?
 
Conservatives tend to eschew logic and facts and go strictly with overblown rhetoric.

Again, see how easy this is? See how stupid it is?

You really have no room to talk given you bias. You whine about the right and yet I don't see the same thing when it comes from the factually challenged lefties. Or in your case, your claims about Buffett
 
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