What are your feelings on the Buffet Rule?

lunchbox said:

Where is the crime in being legally rich?

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The rich only have the tax breaks they do because politicians convinced voters they should vote for them as it would increase jobs. We mistakenly thought they meant jobs here in America and voted for the tax cuts for the rich. Since that was not the case, there is no incentive for the working class to continue to vote for those who promise to increase the tax breaks for the rich.

TurtleDude said:

Not even the most avid fans of Obumble and his tax scheme have stated it will do that

indeed, Obumble's paid butt boys are now saying the main reason for this idiocy is "Fairness" rather than revenue.

I have a great idea-lets have REAL FAIRNESS

make all the slackers who PAY NOTHING pay 30% as well

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I know these numbers seem small to guys like you. You probably make $10,000 bets all the time too.

I'll be glad to see these cuts go to, That trilion is probably low because of the Bush Recession, I bet we can count on $1.5 Trillion more revenue in the next 10 years from ending these cuts alone.

Catawba said:

The rich only have the tax breaks they do because politicians convinced voters they should vote for them as it would increase jobs. We mistakenly thought they meant jobs here in America and voted for the tax cuts for the rich. Since that was not the case, there is no incentive for the working class to continue to vote for those who promise to increase the tax breaks for the rich.

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how can you claim the rich have "tax breaks" when the top one to two percent are the only group that pays more of the income tax burden than their share of the income?

iguanaman said:

I know these numbers seem small to guys like you. You probably make $10,000 bets all the time too.

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I relegate your posts to the dungheap when you claim tax cuts COST anyone money

the top one percent pay more income taxes than 70% of the country

the inability of those who want more government to pay for what they demand others fund is what REALLY costs us money

Catawba said:

The rich only have the tax breaks they do because politicians convinced voters they should vote for them as it would increase jobs. We mistakenly thought they meant jobs here in America and voted for the tax cuts for the rich. Since that was not the case, there is no incentive for the working class to continue to vote for those who promise to increase the tax breaks for the rich.

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You go where the rent's cheapest, Catawba, and it looks like our corporate landlords just took over the #1 spot.

The Tax Foundation - The Countdown is Over. We're #1

TurtleDude said:

how can you claim the rich have "tax breaks" when the top one to two percent are the only group that pays more of the income tax burden than their share of the income?

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You are apparently unable to understand that record wealth means record taxes paid, and that it has absolutely nothing to do with the lowered tax rates for the rich on all income, including capital gains and inheritance. Fortunately, most voters are able to understand this.

lunchbox said:

You go where the rent's cheapest, Catawba, and it looks like our corporate landlords just took over the #1 spot.

The Tax Foundation - The Countdown is Over. We're #1

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Sorry, it doesn't pass the sniff test.........

"Nearly 300 of the nation's most profitable companies paid an average tax rate of 18.5 percent from 2008 to 2010, less than half of the 35 percent corporate tax rate, according to a study by the Citizens for Tax Justice released Thursday. Of the 280 companies, 78 studied paid a tax rate of zero or less during at least one year of the three year period."

Thirty Of America's Most Profitable Companies Paid 'Less Than Zero' In Income Taxes In Last 3 Years: Report

Catawba said:

Sorry, it doesn't pass the sniff test.........

"Nearly 300 of the nation's most profitable companies paid an average tax rate of 18.5 percent from 2008 to 2010, less than half of the 35 percent corporate tax rate, according to a study by the Citizens for Tax Justice released Thursday. Of the 280 companies, 78 studied paid a tax rate of zero or less during at least one year of the three year period."

Thirty Of America's Most Profitable Companies Paid 'Less Than Zero' In Income Taxes In Last 3 Years: Report

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I'm talking about the corporations that don't have an army of lawyers searching for loopholes. They are the one's stuck in the 39.2% bracket.

If you have a problem with Corporate America, go yell at Barack Obama's leading constituents, first -- GE was sprinkled throughout your Huffington Post resource.

lunchbox said:

I'm talking about the corporations that don't have an army of lawyers searching for loopholes. They are the one's stuck in the 39.2% bracket.

If you have a problem with Corporate America, go yell at Barack Obama's leading constituents, first -- GE was sprinkled throughout your Huffington Post resource.

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I am talking about corporations that play by the rules, thanks to the loopholes that allow corporations to profit by outsourcing American jobs.

BTW, GE was getting the tax breaks under the George Bush tax code, which the president has proposed changing. If you are for the rich, vote for the King of the 1% - Romney.

For myself, I care more about looking out for the working class and our economy.

The only buffet rule should be that it's all you can eat.

Catawba said:

I am talking about corporations that play by the rules, thanks to the loopholes that allow corporations to profit by outsourcing American jobs.

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You're pissed off at companies for exercising their right to refuse a seat at the most over priced table in the world?

Catawba said:

BTW, GE was getting the tax breaks under the George Bush tax code, which the president has proposed changing.

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GE is in bed with our Commander in Chief, my friend. This isn't Bush's fault: Americans shouldn't be cheerleaders for GE | Campaign 2012 | Washington Examiner

Catawba said:

For myself, I care more about looking out for the working class and our economy.

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I care about all classes having the freedom to pursue their dreams.

lunchbox said:

You're pissed off at companies for exercising their right to refuse a seat at the most over priced table in the world?

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No, i am pissed at politicians that give tax breaks to people just because they are rich, without any requirement to create jobs in this country.

GE is in bed with our Commander in Chief, my friend. This isn't Bush's fault: Americans shouldn't be cheerleaders for GE | Campaign 2012 | Washington Examiner

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These are are the Bush tax cuts that Obama proposes ending:

"Citizens for Tax Justice, which advocates steeper corporate taxes, said it surveyed major U.S. companies and found that 26 on average paid no net federal income taxes between 2008 and 2011, among them General Electric and Duke Energy ."

Read more: Companies Use Popular Provision to Avoid Income Taxes

I care about all classes having the freedom to pursue their dreams.

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Well, somehow you missed the class war that is preventing economic freedom for over half the country. There will be a reminder of this in November.

Catawba said:

I am talking about corporations that play by the rules, thanks to the loopholes that allow corporations to profit by outsourcing American jobs.

BTW, GE was getting the tax breaks under the George Bush tax code, which the president has proposed changing. If you are for the rich, vote for the King of the 1% - Romney.

For myself, I care more about looking out for the working class and our economy.

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And yet we constantly hear that this legislation will do nothing to help the middle class. Unless you think this adm will "earmark" these funds for deficit reduction, which will never happen.

The results are obvious. Once again we will aim to make these megacorps pay more, they will use their armies of lawyers and accountants to game the system and small and mid size business people will get hammered. Happens every time. And at the end of it all we get is less economic activity and more govt spending.

I've said it before, giving the fed govt more money is like reloading a gun for a monkey.

I don't recall Buffet ever actually running a small business, so I don't see where his 'advice' is worth anything. Such a bill will be so compromised by the time it gets through committees that it will end up just another tax increase on small businesses anyway.

It won't address the real problems of jobs, entitlement giveaways to big business, and pork spending. The real problem is still wages and incomes lagging far behind inflation, the fake numbers handed out by government economic agencies being worthless, and the huge decline in disposable incomes of those who actually work for a living. That's the Number One Problem of small businesses, the ones that actually create local jobs incountry, not government regulation, SS, or any of the other bull**** propaganda. They want more sales and customers. I'm talking about actual, legitimate small businesses, not the jerk-offs that try to claim their game room as an 'office' and pretend to be 'dog breeders' and that sort of nonsense for tax write-offs and such. There is nothing on the horizon that will address that, from either 'party'. The top 1% are merely sitting on their cash until the next government welfare program that guarantees them a big return comes along. The sooner it's taxed and spent by distribution through SS or make-work projects and re-circulating through the domestic economy the better for stimulating American small businesses, along with tariffs and taxes on overseas profits from slave labor colonies like Red China and Mexico the better.

Catawba said:

No, i am pissed at politicians that give tax breaks to people just because they are rich, without any requirement to create jobs in this country.




These are are the Bush tax cuts that Obama proposes ending:

"Citizens for Tax Justice, which advocates steeper corporate taxes, said it surveyed major U.S. companies and found that 26 on average paid no net federal income taxes between 2008 and 2011, among them General Electric and Duke Energy ."

Read more: Companies Use Popular Provision to Avoid Income Taxes



Well, somehow you missed the class war that is preventing economic freedom for over half the country. There will be a reminder of this in November.

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What's really ironic is that right wingers' current popularity is more dependent on entitlement programs than any other ideology, as without even the meager safety net that exists now they would have been laughed out of existence in Reagan's first two years. As it is, they don't have any real uprisings as Roosevelt had to deal with, and many corporations themselves, particularly Wal-Mart, currently the largest employer in the U.S., and the medical industry and all those wealthy doctors and HMO's rake in a lot of money from programs like Medicare, Social Security, food stamps, etc. If you want to see a real economic and social collapse, just vote for a Libertarian legislature and President. It would be another 70 years before anybody sane would be stupid enough to do it again.

This is the same warren buffet who's suing the irs because he thinks his companies pay too much in taxes?


If the rule is put in place, the projected revenue is 40 billion? Thats not even a dent, it's an emotional law....

Oh and the reason, i hear he pays less than his secratary is she makes 150k a year, (not your average pay as emotionally the image tries to portray), but he only takes about 75k in salary.

Ignore the slight of hand here......:lol:

TurtleDude said:

however, the schemes you advocate would massively increase taxes on the rich

for example making all inheritances taxed as income meaning every dollar a rich person gets would be taxed at 35% rather than what happens now where only an estate over 5 million gets taxed and at 35% AFTER 5 million

you also want dividend income taxed first at the 35% corporate rate and then at 40% for those in the top one percent which almost triples taxes on the rich while it really doesn't raise it much on most americans

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Yes - I want money coming in simply taxed according to the normal income tax schedule. This would mean doing away with inheritance taxes as well as capital gains taxes.

I disagree with this figure you give about 35% and 40%. I only favor taxing income at 35% for those in the top bracket.

ReverendHellh0und said:

This is the same warren buffet who's suing the irs because he thinks his companies pay too much in taxes?


If the rule is put in place, the projected revenue is 40 billion? Thats not even a dent, it's an emotional law....

Oh and the reason, i hear he pays less than his secratary is she makes 150k a year, (not your average pay as emotionally the image tries to portray), but he only takes about 75k in salary.

Ignore the slight of hand here......:lol:

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FORTY BILLION DOLLARS is a great deal of money. The far right gets apoplectic about far far less in their campaign for financial responsibility.

Catawba said:

You are apparently unable to understand that record wealth means record taxes paid, and that it has absolutely nothing to do with the lowered tax rates for the rich on all income, including capital gains and inheritance. Fortunately, most voters are able to understand this.

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Most voters think someone else ought to pay for the government they want

haymarket said:

Yes - I want money coming in simply taxed according to the normal income tax schedule. This would mean doing away with inheritance taxes as well as capital gains taxes.

I disagree with this figure you give about 35% and 40%. I only favor taxing income at 35% for those in the top bracket.

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still too much

everyone should pay the same rate so the many have no incentive to jack up the top rates on the few

TurtleDude said:

still too much

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Tell that to your grandchildren when they pick up the tab for what we refuse to do today.

haymarket said:

Tell that to your grandchildren when they pick up the tab for what we refuse to do today.

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Its you and your side that wants more and more government that NO TAX plan can fund, not me. Its your heroes who started this mess with the New Deal, not mine

haymarket said:

FORTY BILLION DOLLARS is a great deal of money. The far right gets apoplectic about far far less in their campaign for financial responsibility.

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That's over ten years.... But i must thank you for demonstrating my point. The buffet rule is simple dependent class warfare that is emotional in nature, and has litttle to do with actual deficit reduction. Kudos to you :thumbs;

It is immaterial if the fair tax rate actually increases revenue,IMO.
Tax rate must always be fair, something beyond the ken of conservatives.
In order to improve the economy we must "bring home" the money.
There is too much in Arabia, Mexico, China.
We can and must out-compete these nations.
Some environmental , and OSHA standards may have to be relaxed...There is such a thing as progressing too fast.
Education must be bought(kicking and screaming) into the 21st century.

TurtleDude said:

Most voters think someone else ought to pay for the government they want

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Considering that more than one percent vote for the government economic schemes set up to benefit the one percent, I would say you are correct.