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Old 07-26-2010, 10:11 AM
 
Location: the very edge of the continent
88,667 posts, read 44,404,157 times
Reputation: 13567

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Quote:
Originally Posted by slackjaw View Post
I'm trying to figure this out. Are you saying Buffet has indicated d he'd give all his extra money to the government but hasn't, or are you saying Buffet doesn't have extra wealth he claims to have?
I'm saying Buffett 'claims' he doesn't pay enough in taxes, but then doesn't fork over any extra $$$ to help pay down the national debt.
Plan on donating? Consider Uncle Sam

Buffett is a hypocrite... he clings to the income he claims he shouldn't be able to keep, and refuses to donate what he believes is his fair share to pay down the debt.

Anyone can donate to Uncle Sam. Where are the limosine liberals? They should be all over this!
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Old 07-26-2010, 10:18 AM
 
Location: Columbia, SC
36,870 posts, read 18,863,013 times
Reputation: 14735
Quote:
Originally Posted by InformedConsent View Post
I'm saying Buffett 'claims' he doesn't pay enough in taxes, but then doesn't fork over any extra $$$ to help pay down the national debt.
Plan on donating? Consider Uncle Sam

Buffett is a hypocrite... he clings to the income he claims he shouldn't be able to keep, and refuses to donate what he believes is his fair share to pay down the debt.

Anyone can donate to Uncle Sam. Where are the limosine liberals? They should be all over this!
How many billions has Buffet pledged to charity in conjunction with Bill Gates?

Does he get any tax credit for the donations?
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Old 07-26-2010, 10:19 AM
 
8,263 posts, read 12,164,491 times
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Well to be fair he's not clinging to all of it, isn't he the guy who made the largest philanthropic donation in history?
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Old 07-26-2010, 10:55 AM
 
24,834 posts, read 37,236,580 times
Reputation: 11538
The "rich" do not get breaks just because they are "rich".

They get them because they have made some kind of investment.

Just like all posters on CD could do.

Hint: You are not taxed on what you make, you are taxed on what you keep.
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Old 07-26-2010, 11:09 AM
 
Location: the very edge of the continent
88,667 posts, read 44,404,157 times
Reputation: 13567
Quote:
Originally Posted by cuebald View Post
How many billions has Buffet pledged to charity in conjunction with Bill Gates?

Does he get any tax credit for the donations?
They would get a tax deduction for donating to pay down the national debt, too. Buffett and Gates should donate to pay down the national debt so that less federal revenue goes to servicing the debt (interest, etc.), and more money can go to helping those in need.

Servicing the exponentially increasing national debt is a disaster in the making:
"With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.

In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan."
http://www.nytimes.com/2009/11/23/business/23rates.html
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Old 07-26-2010, 11:13 AM
 
29,972 posts, read 18,533,328 times
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Quote:
Originally Posted by marcopolo View Post
Congratulations. You are the first person who ever answered my question, and you didn't know I was asking it.

Of all income taxes paid, the top 10% of earners now pay 70% of the dollars collected. (That top 10% earns just under 50% of all income.)

I have asked, if 70% is not the right amount for the top 10% to pay, what is? 80%, 90%, 100%? Your answer: 100%. I think you are as wrong as you can be, but I credit your honesty.

I believe we tend to get paid what we are worth, and that is a reflection of our value to the rest of society. The neurosurgeon with decades of study and skill development is quite valuable. The recent high school dropout, not so much. Nobody should freeze to death or starve to death, and a proportionate income tax is fine--but your tax scheme is a plan that will have a lot of us eating grass and tree bark in a few short years.

Isn't that amazing. It shows the greed and selfishness of liberalism. Liberals want OTHER PEOPLE to pay 100% for things they want and use.

I guess I have a little more pride than that and don't want a handout from anyone.

If one is a US citizen, EVERYONE should have some "skin in the game", or financial risk. If not, decisions are more careless and haphazard when one has no risk.
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Old 07-26-2010, 11:16 AM
 
Location: the very edge of the continent
88,667 posts, read 44,404,157 times
Reputation: 13567
Quote:
Originally Posted by hawkeye2009 View Post
If one is a US citizen, EVERYONE should have some "skin in the game", or financial risk. If not, decisions are more careless and haphazard when one has no risk.
...which is exactly how we got to where we now are.
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Old 07-26-2010, 11:30 AM
 
Location: it depends
6,369 posts, read 6,385,381 times
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Quote:
Originally Posted by InformedConsent View Post
...which is exactly how we got to where we now are.
....because Fannie and Freddie immunized the mortgage market, and set the rules in accordance with Barney Frank and Chris Dodd's instructions.
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Old 07-26-2010, 11:43 AM
 
Location: PA
5,562 posts, read 5,666,493 times
Reputation: 1962
Lets see tax breaks for the rich or everyone?
I prefer nobody pays a income at all which will grow everyones wealth and expand business and jobs.
Remove the income tax and put a sales tax on everyone you buy expect for clothing and food of 3%.
This way not to expect anyones basic needs.

Everyone pays 3% and the government can still function and Americans can be free from big government. Remove all the federal sin taxes and gas taxes as well and you will watch this nation grow in economics you never seen before and stop this assult on the taxer once and for all.

Dont at tax unemployment checks, dont tax social security checks.
Phase out the social security system and replace it with individual accounts removing the govenment generation dependancy.

So in your check you will no longer the see deduction of FED which is usally the highest only SS and medicare which program deductions will still exisit.
Close the IRS and no more filiing.
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Old 07-26-2010, 12:26 PM
 
Location: Columbia, SC
36,870 posts, read 18,863,013 times
Reputation: 14735
Quote:
Originally Posted by InformedConsent View Post
They would get a tax deduction for donating to pay down the national debt, too. Buffett and Gates should donate to pay down the national debt so that less federal revenue goes to servicing the debt (interest, etc.), and more money can go to helping those in need.
You mean like Universal Health Care?
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