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You're working on assumptions. Could you calculate my taxes too, if I just told you my income, and getting it down to a minimum?
would you rather me give the MINIMUMS that she would pay or substitute mine
fact : buffett says she earned 60k
fact I earn 60k and pay ZERO in federal income AND payroll taxes
fact: buffet says SHE (not her employeer) pays 30% federally...which is IMPOSSIBLE
fact : I showed that even on a single/renter (the least amount of deductions ) the MOST she would pay for federal income AND payroll would be 22%..meanwhile she is married has children and owns (or the bank owns) a house
yes if you gave me your income and status, I certainly could come within a ballpark for a minimum amount
would you rather me give the MINIMUMS that she would pay or substitute mine
fact : buffett says she earned 60k
fact I earn 60k and pay ZERO in federal income AND payroll taxes
fact: buffet says SHE (not her employeer) pays 30% federally...which is IMPOSSIBLE
fact : I showed that even on a single/renter (the least amount of deductions ) the MOST she would pay for federal income AND payroll would be 22%..meanwhile she is married has children and owns (or the bank owns) a house
yes if you gave me your income and status, I certainly could come within a ballpark for a minimum amount
I posted the link to mine on post #45...go look
I can agree with YOUR facts, not that of others you assumed. But, why would Buffett lie?
I can agree with YOUR facts, not that of others you assumed. But, why would Buffett lie?
I can not get into his mind..........but a guess would be......... because he understands that you could raise the tax rate on income to 90% and it would not effect him.....but.... .it certainly would effect his competatiors, especially small businesses, especially in the pre-manufactured homes(factory made as oppsed to stick built) area (berkshire is big in that industry)
easiest way to win the game..have the government take the compitition away
but that is a guess..I only know that the FACTS are he said 30% and there is NO WAY for that to be.....he lied/fibbed/spinned
Funny, that's how conservatives came up with the "auto workers earn $75 per hour" figure.
They added in EVERY expense that could be tacked on to hiring an employee and claimed that for the employee's total compensation.
I didn't move the goal post, I just used the ones that the conservatives put up.
Actually that was the auto makers that came up with $70 per hour, and that was the accurate labor costs, not earnings.. Please attempt to be accurate.. I know its difficult at times..
FactCheck.org: Do auto workers really make more than $70 per hour? (http://www.factcheck.org/askfactcheck/do_auto_workers_really_make_more_than.html - broken link)
[SIZE=3]As [/SIZE][SIZE=3]David Leonhardt pointed out[/SIZE][SIZE=3] in the New York Times (countering, in a sense, the earlier piece by Sorkin), the average GM, Ford and Chrysler worker receives compensation – wages, bonuses, overtime and paid time off – of about $40 an hour. Add in benefits such as health insurance and pensions and you get to about $55. Another $15 or so in benefits to retirees (known as "legacy costs") brings the number to roughly $70. [/SIZE]
Good link..and at the end of it it makes my point.
Be sure you run it as a business.
I just set up a dog breeding business for a friend.
Will the annual (legitimate ) losses drop the tax rates dramatically? This is the debate, a $1-3k a year loss won't save a ton, a $10-20k a year will but you will be defending these losses after a few years.
Actually that was the auto makers that came up with $70 per hour, and that was the accurate labor costs, not earnings.. Please attempt to be accurate.. I know its difficult at times..
FactCheck.org: Do auto workers really make more than $70 per hour? (http://www.factcheck.org/askfactcheck/do_auto_workers_really_make_more_than.html - broken link)
[SIZE=3]As [/SIZE][SIZE=3]David Leonhardt pointed out[/SIZE][SIZE=3] in the New York Times (countering, in a sense, the earlier piece by Sorkin), the average GM, Ford and Chrysler worker receives compensation – wages, bonuses, overtime and paid time off – of about $40 an hour. Add in benefits such as health insurance and pensions and you get to about $55. Another $15 or so in benefits to retirees (known as "legacy costs") brings the number to roughly $70. [/SIZE]
I appologise for not being entirely accurate about auto worker compensation, but in my defense, I've heard plenty of conservative posters argue the $70 per hour point.
But seriously, if the secretary in question was instead self-employed, she'd have to cover both sides of the payroll tax equation - that's why I include it as part of the taxes paid. It's semantics to claim otherwise.
ZERO in federal income tax..and many get back more than they paid..and for many that includes ss/medi payroll tax too
just like warren buffets secretary..who earns 60k and pays zero in federal income tax..warren buffett is spinning political bs around
I chased down the link. For (I assume) tax year 2009, WCH has $13.K in business deductions (certain business expenses of reservists, performing artists, and fee-basis government officials), $21K in itemized deductions (but no Schedule A attached), $21.9K in personal deductions (which would seem to be 6 people in the house-hold), a $200 deductions for a contribution to a 401K, a $201 deduction for a residential energy credit.
Somehow I don't think that is comparable to Warren Buffet's secretary - I don't think that she has nearly $56K in deductions.
I do wonder if WCH is a performing artist or a government worker...
I also think that WCH needs to start contributing more than $200 a year to a 401K.
And $21K in itemized deductions? Mines only around $10K...I hope it's just a high mortgage interest rate and not medical bills that pumped up that figure.
It also occurs to me...when conservatives complain that the middle class doesn't pay it's fair share of taxes, they're talking specifically about WorkingClassHero!
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