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Old 10-12-2011, 03:18 PM
 
13,089 posts, read 8,190,609 times
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Why Does Herman Cain Want to Cut Warren Buffett's Taxes? Buffet pays about 11% in federal taxes, why does Herman Cain believe that Buffett's taxes should be lowered to 9%?
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Old 10-12-2011, 03:25 PM
 
Location: Hoboken
19,889 posts, read 17,027,934 times
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Quote:
Originally Posted by Winter_Sucks View Post
Why Does Herman Cain Want to Cut Warren Buffett's Taxes? Buffet pays about 11% in federal taxes, why does Herman Cain believe that Buffett's taxes should be lowered to 9%?
Well that's not true.

Fact check: The wealthy already pay more taxes

The PJ Tatler » AP Fact Check: No, Warren Buffett’s Secretary Doesn’t Pay a Higher Tax Rate Than He Does

http://www.forbes.com/sites/timworst...-tax-argument/

Poor lefties will fall for anything.

Oh yes, and most deductions would go away so the rich would pay more!

Cheers!
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Old 10-12-2011, 03:27 PM
 
13,089 posts, read 8,190,609 times
Reputation: 5813
Quote:
Originally Posted by shorebaby View Post
Well that's not true.

Fact check: The wealthy already pay more taxes

The PJ Tatler » AP Fact Check: No, Warren Buffett’s Secretary Doesn’t Pay a Higher Tax Rate Than He Does

Poor lefties will fall for anything.

Oh yes, and most deductions would go away so the rich would pay more!

Cheers!
Buffett pays 11% in federal taxes. Why does Cain think Buffett needs a tax cut?
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Old 10-12-2011, 03:30 PM
 
Location: Hoboken
19,889 posts, read 17,027,934 times
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Quote:
Originally Posted by Winter_Sucks View Post
Buffett pays 11% in federal taxes. Why does Cain think Buffett needs a tax cut?
Wow, you know better than Warren what his tax rate is? You are very clever indeed!

Repeating a lie doesn't make it so!

Cheers!
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Old 10-12-2011, 03:34 PM
 
10,535 posts, read 12,458,045 times
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Warren Buffet is not the only person that pays capital gains taxes which are lower for two reasons, that money has already been taxed and to encourage investment. Basing a law on one guy is silly so why present the strawman.
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Old 10-12-2011, 03:35 PM
 
13,089 posts, read 8,190,609 times
Reputation: 5813
Quote:
Originally Posted by shorebaby View Post
Wow, you know better than Warren what his tax rate is? You are very clever indeed!

Repeating a lie doesn't make it so!

Cheers!
Warren Buffett's Effective Federal Income Tax Rate Was Just 11% - Forbes
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Old 10-12-2011, 03:45 PM
 
Location: Hoboken
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Lol, buffets own words!

Cheers!
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Old 10-12-2011, 10:25 PM
 
29,986 posts, read 39,002,007 times
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Quote:
Originally Posted by Winter_Sucks View Post
Why Does Herman Cain Want to Cut Warren Buffett's Taxes? Buffet pays about 11% in federal taxes, why does Herman Cain believe that Buffett's taxes should be lowered to 9%?

Warren Buffett releases tax figures to GOP - The Hill's Blog Briefing Room

Quote:
Buffett revealed in a letter sent to Huelskamp that his adjusted gross income was $62,855,038 last year and that he paid $15,300 in payroll taxes, as reported by CNN Money. He also claimed, as he had in an op-ed previously this year, that his federal income tax bill last year came to $6,923,494, or about 17 percent of his $39,814,784 taxable income.
Quote:
Originally Posted by Rggr View Post
Warren Buffet is not the only person that pays capital gains taxes which are lower for two reasons, that money has already been taxed and to encourage investment. Basing a law on one guy is silly so why present the strawman.
Quote:
Huelskamp called Buffett's response "inadequate."

"What he does disclose may be accurate, but it is incomplete and it fails to explain how he shelters millions of dollars in income from taxation," the lawmaker said in a statement. "It is unprecedented that we would write an entire law based on one man’s anecdotes without actual proof. By sheltering millions of dollars of income from taxation, probably through charitable giving, Mr. Buffett demonstrates that he doesn’t trust Washington with his own money either."
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Old 10-12-2011, 10:53 PM
 
4,043 posts, read 3,158,625 times
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Because Warren earned his money and has a right to not have it stolen from him.

Because Cain understands the free economy and how to stimulate it.

Because Cain knows that Warren will create more jobs with the extra money of his own, if he is allowed to simply keep what is his.

Next question~
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Old 10-13-2011, 06:10 AM
 
Location: Raleigh, NC
20,003 posts, read 16,487,011 times
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Quote:
Originally Posted by Winter_Sucks View Post
Why Does Herman Cain Want to Cut Warren Buffett's Taxes? Buffet pays about 11% in federal taxes, why does Herman Cain believe that Buffett's taxes should be lowered to 9%?
Buffett is sad, he only wants taxes raised for his less rich competition. He doesn't want everyone to pay fewer taxes. What does he gain from lower taxes if everyone gets to pay lower taxes? He can't secure more market share that way. Bummer!

Paid for by Warren "make millionaires pay more taxes so I don't have to" Buffett

http://a2.sphotos.ak.fbcdn.net/hphotos-ak-ash4/300230_235677473157285_114364638621903_621625_6061 82681_n.jpg (broken link)
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