Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You mean THE Warren Buffet, that has just donated tens of BILLIONS? I'll listen to his advise on the rich when I see that he's not claiming those billions as a tax deduction.
Furthermore, the whole premise that the rich pay less is flawed. Donald Trump makes $1 per year.. Thats his PAYCHECK.. Ivanka Trump, who worked for Donald, made $1 per year. In order to understand why their paycheck is so low, you must understand that he's all in "corporations" and not subject to estate taxes. How do you do a comparison with $1 per year gross income for Trump, vs his secretary that makes $250K. I guarantee you the secretary pays more in taxes...
The estate taxes ONLY Hurt the middle class and lower upper class because the lower classes are exempt, and the upper classes dont pay, having most of their assets in corporations, trusts agreements etc.
Overall, the whole estate taxes on the dead is flawed anyways. The dead dont pay taxes, those left alive do, and I cant tell you the number of companies that have folded because the middle income couldnt afford to pay the taxes due upon their parents death.
Based upon your response, I am 100% positive you did not watch the interview. Your response sounds more like regurgitated propaganda than a truly informed opinion.
Actually you have just seen what a free market, that is unregulated capitalism, does to an economy. Now if you were talking about free enterprise--regulated markets--it would be a much different scenario right now.
Unregulated capitalism? You actually think that we have unregulated capitalism right now? Our current financial crisis is a direct result of government intervention (the Fed keeping interest rates too low, for too long).
Based upon your response, I am 100% positive you did not watch the interview. Your response sounds more like regurgitated propaganda than a truly informed opinion.
Watch the interview.
I am very well aware of Mr Buffet's stance on more taxes. Bill Gate's father feels the same way.
Interesting chart because it looks like, if it wasnt for the war, we'd have hundreds of billions a year in surpluses, vs hundreds of billions in the hole..
In its regular budget, which will be released Monday, the administration will request a nearly 5 percent increase in funding for the Pentagon for fiscal 2007, to $439.3 billion, said a senior defense official, who spoke on condition of anonymity.
So 95% of $439.3 billion = $417 Billion.
Take $417Billion spent on war, - $210Billion deficit you get $207Billion surplus.
I'm not stating that I'm correct here, but from the looks of it Bush would of had a HUGE surplus had it not been for the war.
In its regular budget, which will be released Monday, the administration will request a nearly 5 percent increase in funding for the Pentagon for fiscal 2007, to $439.3 billion, said a senior defense official, who spoke on condition of anonymity.
So 95% of $439.3 billion = $417 Billion.
Take $417Billion spent on war, - $210Billion deficit you get $207Billion surplus.
I'm not stating that I'm correct here, but from the looks of it Bush would of had a HUGE surplus had it not been for the war.
Where am I wrong?
So when we aren't in a war, the Pentagon recieves $0?
On edit - the Iraq War has cost us 447 Billion so far. Going by the data from the OMB, including the 2007 estimate, the deficit under Bush since 2002 is at 1.75 trillion.
So when we aren't in a war, the Pentagon recieves $0?
On edit - the Iraq War has cost us 447 Billion so far. Going by the data from the OMB, including the 2007 estimate, the deficit under Bush since 2002 is at 1.75 trillion.
$1Trillion deficit not $1.75Trillion.. (not that $1Trillion is chump change).
2007 Shows an expected deficit of $202.2 Billion, Per this graph http://jec.senate.gov/charts/Iraq%20Economic%20Cost%20Report/chart4.pdf (broken link) we're spending more then $225 Billion this year for just the war and infrastructure.. Which means that if we were not funding a war, we should have a surplus of $23.8 Billion, not a deficit this year. (I gave a pass at the last 3 expenses on that page because they are future expenses, but if I added them in, it would show a surplus of $83.8Billion).
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
