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.
oh please....it has been proven time after time that buffett lied
his secretary makes 60k (his words)..therefore she is in the 15% bracket..and would pay less than 12%....as I will show she pays less than 5%
buffett pays an effective 17%...meanwhile buffett paid over 8 million in taxes
he said his secretary pays 30% in federal taxes...he lies
buffets states he gets taxed at 17% (his earned income is only 100k, the rest is investment (capital gains taxed at 15%(recently raised to 20%))) and that is less than his secretary...fact that is a LIE
there is no disputing that fact
the left lies
FACT: making 60k (which is what buffet himself says she makes) puts her in the 15% bracket..and that's based on her ENTIRE 60k being taxed..and we ALL KNOW that is never the case...even single you have the personal exemption, and the standard deduction
FACTS:
we're talking about a married secretary. with a not working spouse. They file jointly, pay a home mortgage and have 2 older kids (still claimed ) . They probably place at least $4,000 in an 401k (the average is about 7%) and itemize $15,000 in deductions(about 3k over the standard deduction). .....Here the tax picture changes dramatically. ....Taxable income drops to $27,800 -- the 15 percent tax bracket. With child tax credits, secretary now pays $1,419 in federal taxes, or 2.4 percent of $60,000. Add in another 2 percent for $1,218 in state taxes, and secretary pays a grand total, state and federal(to include payroll(ss)), of 4.4 percent on the $60,000-a-year salary.
IF she is single/renter (which she is not) this would be the number:
60k gross:
That would give her taxable income of $50,250 ($60,000 less 1 exemption @ $3,400 and a standard deduction of $5,360) and a federal income tax liability of $8,986.25 – $4,386.25 + 25% of the excess over $31,850. So, the secretary’s effective Federal income tax rate is only 15% ($8,986.25 / $60,000). Hmmmm.
so FACT is that she would only be rated at 15% for INCOME...if you want to throw in payroll, (which is not income tax) it still only brings her up to 22%...certainly not the 30% that buffett lied about
FACTS:
buffett is a salaried worker for his companies...his salary 100k
his secretary earned 60k
he paid multi-millions..his secretary paid less than 3k......
buffett want the rates (for ALL) to be higher,, because it wont effect him, but it will hurt his competition....those are facts
And when someone lies they usually have a incentive to do it. Why is Buffet lying about his tax rate, what benefits does Buffet get from lying about his tax rate?
Instead of all these mandated fines, those who earn above $250,000/year income should pay for the Govt costs of funding free universal healthcare for all people. And those millionaires should pay like $150,000 each towards the healthcare for all people, then it's a free for everybody and costs finally come down, no?
Uhhhh, you're cutting into someone's campaign donations there. Not gonna happen.
No. The capital gains tax rate is 20% for incomes over $400,000 for single; $450,000 for married filing jointly or qualifying widow(er); $425,000 for head of household, and $225,000 for married filing separately. Tax Topics - Topic 409 Capital Gains and Losses
So, yes, it's very close to the over 19% effective federal income tax rate paid by the top 400 filers.
I said " The capital gains tax rate is (around) 16%."
The capital gains tax rate changes from year to year.
In 1996 the average -effective- capital gains rate was 25%.
From 2004-2007 it was 14%.
In 2009 it was 12%. Historical Capital Gains and Taxes
Once again, proving Gruber right, that most voters are STUPID. No clue at the difference between income and gains, but willing to spout off about how unfair the rate is.
The IRS isn't targeting your family, and making them pay more in taxes. They pay on INCOME, Buffett pays on GAINS.
CEO's/billionaires make their personal income from stocks, and they pay taxes on their personal income with capital gains tax rates.
Republicans live in a fantasy world where CEO's/billionaires take home millions of dollars in personal income/gains (they then use that money to buy homes, buy cars, and put in their bank accounts) AND REPUBLICANS BELIEVE THAT MONEY IS NOT PERSONAL INCOME.
Google search "Mitt Romney's home, vacation home, jet, car collection" Romney is using his gains to buy vacation homes and classic car collections (those gains are personal income.)
And when someone lies they usually have a incentive to do it. Why is Buffet lying about his tax rate, what benefits does Buffet get from lying about his tax rate?
Pump that tax dollar - economic stimulus
Buffett advised the President to pump trillions of our tax dollars into the US economy through massive stimulus programs, profiting companies he owned. He wanted more of our tax dollar too. From destruction to rebuilding, Warren Buffett has helped guide the events like no other man alive, and profited like no other as well. Warren Buffett, the Devil in the Details
Buffett - No to keystone pipeline
Buffett owns rail cars that transport oil. He is making a killing on it. He would rather oil is transported in buckets (his rail cars) instead of the keystone pipeline. Buffett Like Icahn Reaping Tank Car Boom From Shale Oil Buffett Like Icahn Reaping Tank Car Boom From Shale Oil - Bloomberg
Buffett - owned banks and rating agency stock
Buffett owned the banks that created and sold worthless assets to the world’s investors. He owned the ratings agency that charged huge fees to lie about the value of those worthless assets. He owned the banks that bet against huge odds on those same worthless assets. He owned the media company that made sure the American people never found out the truth. He owned…invested in, rather, the man who would decide the fate of each of his investments.
Google search "Mitt Romney's home, vacation home, jet, car collection" Romney is using his gains to buy vacation homes and classic car collections (those gains are personal income.)
And when someone lies they usually have a incentive to do it. Why is Buffet lying about his tax rate, what benefits does Buffet get from lying about his tax rate?
he isnt lying about his tax rate, in fact 11% tax rate is higher than most americans effective tax obligations.
Buffet has WEALTH, and then to shield that wealth from taxes, he stopped haver BRK pay dividens, and then he has donated much of it to charity.
His salary at BRK is only $100K a year, while he makes billions in asset appreciation tax free.
Even the Buffet tax proposal wouldnt put a dent in Buffets wealth, but Democrats all stand there shouting, "if Buffet likes it, it must be true"..
CEO's/billionaires make their personal income from stocks, and they pay taxes on their personal income with capital gains tax rates.
No, they make their personal WEALTH from stocks, and then shield their income by paying out capital gains in new stock or even eliminating it completely.
Quote:
Originally Posted by chad3
Republicans live in a fantasy world where CEO's/billionaires take home millions of dollars in personal income/gains (they then use that money to buy homes, buy cars, and put in their bank accounts) AND REPUBLICANS BELIEVE THAT MONEY IS NOT PERSONAL INCOME.
You dont know what you are talking about.
Gains, in order to buy homes cars etc, have to be converted from an asset to income which is TAXED.. Its taxed FIRST, and then whats left over gets spent.
Quote:
Originally Posted by chad3
Google search "Mitt Romney's home, vacation home, jet, car collection" Romney is using his gains to buy vacation homes and classic car collections (those gains are personal income.)
Pump that tax dollar - economic stimulus
Buffett advised the President to pump trillions of our tax dollars into the US economy through massive stimulus programs, profiting companies he owned. He wanted more of our tax dollar too. From destruction to rebuilding, Warren Buffett has helped guide the events like no other man alive, and profited like no other as well. Warren Buffett, the Devil in the Details
Buffett - No to keystone pipeline
Buffett owns rail cars that transport oil. He is making a killing on it. He would rather oil is transported in buckets (his rail cars) instead of the keystone pipeline. Buffett Like Icahn Reaping Tank Car Boom From Shale Oil Buffett Like Icahn Reaping Tank Car Boom From Shale Oil - Bloomberg
Buffett - owned banks and rating agency stock
Buffett owned the banks that created and sold worthless assets to the world’s investors. He owned the ratings agency that charged huge fees to lie about the value of those worthless assets. He owned the banks that bet against huge odds on those same worthless assets. He owned the media company that made sure the American people never found out the truth. He owned…invested in, rather, the man who would decide the fate of each of his investments.
Obviously Buffett likes Obama because he can play Obama like a fiddle for his own gain.
I will admit Buffets faults, but will you admit the Koch brothers faults?
Buffet controls the democrats, and the Koch brothers control the republicans. And the Koch brothers are worse than Buffet. But republicans believe the Koch brothers to be the Saviors of America, when in fact they are trying to dismantle all regulatory powers of our government (so their corporations can make more profits.)
Romney is a greedy, stupid, honor-less CEO that brainwashes republicans to fight for his 14% tax rate, while my millionaire non-CEO cousin has a 30%+ tax rate.
Then Romney (the cult leader) of republicans gets his brain dead zombie followers to vote to give him this.
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.
