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Old 01-25-2012, 01:31 PM
 
Location: Silver Springs, FL
23,440 posts, read 31,739,509 times
Reputation: 15560

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Quote:
Originally Posted by workingclasshero View Post
oh please

his secretary pay NOTHING in federal income taxes while buffet pays millions
What Buffet actually said his secretary was taxed at a higher rate than he was.
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Old 01-25-2012, 01:44 PM
 
17,751 posts, read 15,654,137 times
Reputation: 6391
We are not being taxed by government. We are being taxed by the mortgage industry. Cheap credit converted into interest payments, and with a nice tax deduction to boot. If you bought a house in the last 10 years, you were bidding against a printing press and a warm body.


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Old 01-25-2012, 01:46 PM
 
Location: Dallas, TX
31,777 posts, read 24,907,156 times
Reputation: 12178
Quote:
Originally Posted by southbel View Post
When you start adding special categories for taxes, that creates a more complicated tax code. I would love to see tax reform but I would favor one that is flatter, simple, and eliminates these types of loopholes that Obama talked about creating last night.
One more time, creating tax code isn't President's job. Its Congress'. I wasn't surprised that the President made sure people consider Congress and its responsibilities on various issues that plague this nation, with his straightforward approach to demanding Congress to get to work. And you still didn't get it.

And trust me, the moment you said you're for simple tax code, I was ready to bet on either flat or fair tax. No, that would be a disaster. Flatter? How are you going to go for any more flatness in taxes than now? What exactly do you call simplification, if flatness is where your concern is (if it is more than just the usual "flat tax" idea).
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Old 01-25-2012, 01:46 PM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,343 posts, read 14,055,432 times
Reputation: 6512
Quote:
Originally Posted by kshe95girl View Post
What Buffet actually said his secretary was taxed at a higher rate than he was.
and when buffet said that he LIED

he said his secretary pays 30% in federal taxes

FACT: making 60k (which is what buffet himself says she makes) puts her in the 15% bracket..and that's based on her ENTIRE 60k being taxed..and we ALL KNOW that is never the case...even single you have the personal exemption, and the standard deduction

buffets states he gets taxed at 17% and that is less than his secretary...fact that is a LIE

there is no disbuting that fact


other FACTS:we're talking about a married secretary, with a stay-at-home spouse. They file jointly, pay a home mortgage and have two kids under the age of 17. They place about $4,000-$6000 in an IRA/401k and itemize about $15,000(just slightly over the standard deduction of 12k) in deductions. Here the tax picture changes dramatically. Taxable income drops to $27,800 --still the 15 percent tax bracket. With child tax credits, secretary now pays $1,419 in federal taxes, or 2.4 percent of $60,000. , with the nergy credit, the 401k credit, the health care cost credit, and the makework credit. it brings her to a NEGAITIVE tax burden

meanwhile buffett paid over 8 million in taxes
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Old 01-25-2012, 01:48 PM
 
Location: Silver Springs, FL
23,440 posts, read 31,739,509 times
Reputation: 15560
Quote:
Originally Posted by workingclasshero View Post
and when buffet said that he LIED

he said his secretary pays 30% in federal taxes

FACT: making 60k (which is what buffet himself says she makes) puts her in the 15% bracket..and that's based on her ENTIRE 60k being taxed..and we ALL KNOW that is never the case...even single you have the personal exemption, and the standard deduction

buffets states he gets taxed at 17% and that is less than his secretary...fact that is a LIE

there is no disbuting that fact


other FACTS:we're talking about a married secretary, with a stay-at-home spouse. They file jointly, pay a home mortgage and have two kids under the age of 17. They place $4,000 in an IRA and itemize $15,000 in deductions. Here the tax picture changes dramatically. Taxable income drops to $27,800 -- the 15 percent tax bracket. With child tax credits, secretary now pays $1,419 in federal taxes, or 2.4 percent of $60,000.

meanwhile buffett paid over 8 million in taxes
Dont shoot the messenger.
I was just pointing out what he said.
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Old 01-25-2012, 01:50 PM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,343 posts, read 14,055,432 times
Reputation: 6512
Quote:
Originally Posted by kshe95girl View Post
Dont shoot the messenger.
I was just pointing out what he said.
wasnt shooting you..not at all..I said buffet lied..not you
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Old 01-25-2012, 01:51 PM
 
Location: London UK & Florida USA
7,922 posts, read 7,840,706 times
Reputation: 2035
Quote:
Originally Posted by southbel View Post
But history disagrees with you. When taxes have been lowered, revenues have increased. In particular with capital gains taxes. Those 1% that you want to raise taxes on, the Buffetts of the world, they're paying capital gains taxes.
So how many Presidents have lowered taxes to the top earners after inheriting a HUGE recession and a housing crisis and being in two wars have increased employment within the first 3 years?
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Old 01-25-2012, 01:52 PM
 
Location: Meggett, SC
10,666 posts, read 9,047,513 times
Reputation: 5948
Quote:
Originally Posted by geeoro View Post
So how many Presidents have lowered taxes to the top earners after inheriting a HUGE recession and a housing crisis and being in two wars have increased employment within the first 3 years?
Actually, Reagan inherited a similar mess.
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Old 01-25-2012, 02:15 PM
 
Location: Long Island, NY
19,717 posts, read 11,569,359 times
Reputation: 5613
Quote:
Originally Posted by LauraC View Post
I bet he spent it on a new teleprompter. Or maybe he gave it to Solyndra. Hey his Secretary of Agriculture said they were hard at work increasing the number of food stamp recipients last year to stimulate the Democrat base...er, the economy. Maybe that's where it went. Maybe he bought some guns for a new Mexican sting operation or to dig a new turtle tunnel complete with signs showing your tax dollars at work. Maybe he needed it to gas up Michelle's airplane vacation trip. It can't be to have the government's fleet of Chevy Volts checked out to make sure the batteries don't ignite but maybe it went toward the $250,000 government subsidy per cars sold.

Maybe he needed it to get those UGLY gold/yellow drapes in the White House he always stand in front of, dry-cleaned. (okay, that's just me saying that )

Hey, share the wealth!
The above is an example of someone who cannot engage in intelligent debate who must resort to taking events and turning them into mindless insults that have no relation to real facts.
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Old 01-25-2012, 02:17 PM
 
Location: Dallas, TX
31,777 posts, read 24,907,156 times
Reputation: 12178
Quote:
Originally Posted by LauraC View Post
I bet he spent it on a new teleprompter. Or maybe he gave it to Solyndra. Hey his Secretary of Agriculture said they were hard at work increasing the number of food stamp recipients last year to stimulate the Democrat base...er, the economy. Maybe that's where it went. Maybe he bought some guns for a new Mexican sting operation or to dig a new turtle tunnel complete with signs showing your tax dollars at work. Maybe he needed it to gas up Michelle's airplane vacation trip. It can't be to have the government's fleet of Chevy Volts checked out to make sure the batteries don't ignite but maybe it went toward the $250,000 government subsidy per cars sold.

Maybe he needed it to get those UGLY gold/yellow drapes in the White House he always stand in front of, dry-cleaned. (okay, that's just me saying that )

Hey, share the wealth!
^ This is the kind of argument that can only come from target audience to politicians I can't stand.
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