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Old 08-15-2011, 06:10 AM
 
858 posts, read 1,050,289 times
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Interesting article by Warren Buffet. "Stop Coddling the Super Rich" in the NY Times today. Could it be other rich Americans feel the same?

Quote:
While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.
http://www.nytimes.com/2011/08/15/op...rich.html?_r=1


raise taxes cut spending...best of both worlds IMO.
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Old 08-15-2011, 06:11 AM
 
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you mean stop coddling the super rich like him? Or super rich as in your local neighborhood doctor that makes over $100k a year? What a moron, and a brainwashed lemming like you believes him you do know taxes hardly apply to Mr. Buffet? He is an INSIDER, HE PAYS LITTLE TO NO TAX ANYWAY. You can raise his tax bracket to 100% and he'll still manage to dodge 99% of it
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Old 08-15-2011, 06:13 AM
 
858 posts, read 1,050,289 times
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Quote:
Originally Posted by theunbrainwashed View Post
you mean stop coddling the super rich like him? Or super rich as in your local neighborhood doctor that makes over $100k a year? What a moron, and a brainwashed lemming like you believes him you do know taxes hardly apply to Mr. Buffet? He is an INSIDER, HE PAYS LITTLE TO NO TAX ANYWAY

DUH. I think that's the point of the article.
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Old 08-15-2011, 06:13 AM
 
25,058 posts, read 24,557,055 times
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Quote:
Originally Posted by chariega View Post
DUH. I think that's the point of the article.
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
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Old 08-15-2011, 06:14 AM
 
898 posts, read 745,168 times
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Why doesn't he simply turn over his assets to the government?
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Old 08-15-2011, 06:17 AM
 
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Quote:
Originally Posted by zoomba View Post
Why doesn't he simply turn over his assets to the government?
Because he wants your average artsy latte drinking liberal to believe raising taxes on the rich will actually do something when, in fact, people like Buffet will see little to no difference in their tax bill but it will hurt the "rich" that make $100k a year or more. It's all a big ruse, and the liberal always falls for it, hook, line, and sinker
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Old 08-15-2011, 06:18 AM
 
Location: Raleigh, NC
20,003 posts, read 16,483,158 times
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"Quick Obama, get the EPA on my my competitor's a$$. I don't want to lose market share against him."

Love,
pro-Obama billionaire
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Old 08-15-2011, 06:21 AM
 
9,856 posts, read 13,960,336 times
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What is stopping Buffett from mailing the government an extra check every year, if he feels this way? Why do we have to legislate this?
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Old 08-15-2011, 06:22 AM
 
25,058 posts, read 24,557,055 times
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Quote:
Originally Posted by hnsq View Post
What is stopping Buffett from mailing the government an extra check every year, if he feels this way? Why do we have to legislate this?
The poster above you has the answer for you.
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Old 08-15-2011, 06:27 AM
 
Location: Long Island, NY
19,776 posts, read 12,316,729 times
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Quote:
Originally Posted by theunbrainwashed View Post
you mean stop coddling the super rich like him? Or super rich as in your local neighborhood doctor that makes over $100k a year?
If you bothered to read the op-ed, which you apparently did not, he said:
Quote:
I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax.
He also discredited the Republican talking point, "raising taxes on the 'job-creators' cuts investment.
Quote:
Back in the 1980s and 1990s, tax rates for the rich were far higher, and my percentage rate was in the middle of the pack. According to a theory I sometimes hear, I should have thrown a fit and refused to invest because of the elevated tax rates on capital gains and dividends.

I didn’t refuse, nor did others. I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain. People invest to make money, and potential taxes have never scared them off. And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.
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