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And as soon as you start taxing wealth, they'll just move their money offshore or buy another country's citizenship like, ohhh I don't know, Monaco's or Singapore's? So, either way, the billionaires are going to escape taxes no matter what you do, and the only thing you've just accomplished is made it harder for ordinary people to move up the economic ladder in this country, which is what the oligarchs want! And the liberals will defend that, are liberals against social upward mobility???
Most definitely, YES!
Look at the millions they've trapped in poverty with their dependency-enabling social welfare programs, and the inner-city kids they trap in the horrible public schools because they refuse to allow school vouchers that empower students to go to the school of their choice.
Liberals are ALL ABOUT maintaining a permanent underclass, and keeping certain people in their 'place.' It's disgusting!
If you asked Warren whether only billionaires should be taxed, I'm sure you'll get a very different answer.
If new competitors can't be taxed, it's not a good strategy for him. People like him cannot destroy new competition and choice in the marketplace unless those people (say, entry-level millionaires) are suffocated with new regulations and taxes, preventing their new ideas from taking shape.
Does he donate his money like Bill and Melinda Gates do? In other words, donate money to their own charity, thereby keeping their money but getting a charitable contribution tax break anyway?
They do not keep their money but they do keep control over who it gets donated to.
Great points. Buffet is essentially "immune" to taxes and raising the rate on "the rich" would not cost him a penny. Such tax increases would slaughter the $250K-$1 million per year "rich", who derive thier income from actual income, rather than trusts.
it's not impossible. to tax people like buffet, you just raise capital gains rates to that of wages, raise corporate income taxes to that of wages, and eliminate most, if not all, credits and deductions.
it's bizarre that simply suggesting we tax billionaires as much as we tax regular workers is considered to be a controversial idea among the far right.
The typical talking points don't cut it: "so-and-so % of people pay no income tax" -- irrelevant. "buffett can donate his money to the treasury himself" -- irrelevant. "the rich will leave the country" -- not true. "this would kill jobs" -- not true. The far righties on this board can't stand it that Buffett has more credibility than all of them put together.
it's not impossible. to tax people like buffet, you just raise capital gains rates to that of wages, raise corporate income taxes to that of wages, and eliminate most, if not all, credits and deductions.
There will ALWAYS be a loophole your confiscation team overlooked, or was "conveniently" put their by a lobbying group.
You can raise his tax bracket to 100% and he'll STILL dodge most, if not ALL of it . Like it's been said here before, only those of modest means pay taxes. The rich and well-connected do not pay hardly any taxes no matter how high you raise them. All it takes is a good, expensive accountant and tax lawyer to write off most of your taxes. Look at GE. Made huge windfall profits and paid ZERO tax
Would you take a deep breath, and think before you post?
No, if it was MY government like you say -- there wouldn't be.
Governments are not run by one person, therefore your "say" is irrelevant. A lobbying group will always slide in some loophole to protect Mr. Buffet from paying the extra taxes he "desperately" wants to pay.
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But then, that's just silly, to suggest that I'd have my own personal dominion over the U.S.
Yup.
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