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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?
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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.
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
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 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
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
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:
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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.
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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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