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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%
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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
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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.
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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.
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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
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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......
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buffett want the rates (for ALL) to be higher,, because it wont effect him, but it will hurt his competition....those are facts
buffett LIED, and the left fell for it
I love that you keep citing "FACTS", followed by "probably" and an assortment of guesswork about what Buffett and his secretary would pay. Chutzpah in spades!
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by lifeexplorer
We already have toll roads everywhere.
Law enforcement is the government 'a job.
Firefighters should bill us just like ambulances.
There are very few if any toll roads in the SW, and I'd like to keep it that way. And no firefighters shouldn't bill you, ambulances shouldn't either. It's why I'm in support of single payer healthcare
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