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I remember Warren Buffet saying the same thing in US. I don't think I agree with their approach, but I must admit they truly want to help their countries and are ready to sacrifice.
A group of rich Germans has launched a petition calling for the government to make wealthy people pay higher taxes.
The group say they have more money than they need, and the extra revenue could fund economic and social programmes to aid Germany's economic recovery.
Germany could raise 100bn euros if the richest people paid a 5% wealth tax for two years, they say.
those types of arguments always make me laugh. nobody is stopping anyone from writing that extra check to the government, yet they still aren't writing it......
those types of arguments always make me laugh. nobody is stopping anyone from writing that extra check to the government, yet they still aren't writing it......
Laugh away. How do you know what they are writing, and how do you know it wouldn't throw off the government books?
I remember Warren Buffet saying the same thing in US.
Actually that isnt what Buffet said. He said that he should be taxed at a higher rate true, but his total yearly income is $100,000.00, despite him being worth tens of billions of dollars. Much of his wealth grew tax free, and if he was so concerned about paying more taxes, he wouldnt be giving everydime he owns to charity upon his death, he would be putting his money where his mouth is and donating it to the govt, or allowing his family to cashout his estate thereby paying tens of billions to the taxman.
When Buffet pays taxes, I'll start to care about what he says about his tax rate.
Actually that isnt what Buffet said. He said that he should be taxed at a higher rate true, but his total yearly income is $100,000.00, despite him being worth tens of billions of dollars. Much of his wealth grew tax free, and if he was so concerned about paying more taxes, he wouldnt be giving everydime he owns to charity upon his death, he would be putting his money where his mouth is and donating it to the govt, or allowing his family to cashout his estate thereby paying tens of billions to the taxman.
When Buffet pays taxes, I'll start to care about what he says about his tax rate.
Yes, as you say, he was talking about the rates and loopholes. He said that the rich need to pay more taxes, because there are so many loop-holes for the rich that they end up paying a lower rate than their employees whose incomes are only a fraction of theirs. His secretary was being taxed at a higher rate than himself.
It is what it it, and like I said I don't agree with the approach myself.
I am not sure if you can donate money to the government, without throwing off their books. I simply don't know if that is possible.
Warren Buffet, the renowned investor and the world’s second richest man, told Senate Democrats that wealthy Americans need to pay higher taxes, giving Democrats something to mull as they address healthcare reform and soaring federal deficits.
Senate Democrats met with Buffett for more than an hour over lunch Thursday, peppering him with questions about the economy, said lawmakers in attendance.
“He said rich people are not paying enough taxes,” said Sen. Claire McCaskill (D-Mo.). “It was interesting to see someone who is such an aggressive capitalist, who believes so much in our capitalist system, saying we’ve got the scales way too heavily toward people who are very, very wealthy.”
Buffett told lawmakers that because of the cuts to the capital gains tax passed under former President George W. Bush, he pays taxes at a lower rate than some of his company’s employees.
It is an argument the investor has made before. Buffett said he paid a 16.5 percent tax rate on all his income because the tax rate on investment dividends and long-term capital gains is only 15 percent.
Last edited by Finn_Jarber; 10-23-2009 at 07:09 AM..
those types of arguments always make me laugh. nobody is stopping anyone from writing that extra check to the government, yet they still aren't writing it......
Their goal is to get EVERYONE taxed, not just themselves, or a small group of them.
Yes, as you say, he was talking about the rates and loopholes. He said that the rich need to pay more taxes, because there are so many loop-holes for the rich that they end up paying a lower rate than their emiplyees whose incomes are only a fraction of theirs. His secretary was being taxed at a higer rate than himself.
It is what it it, and like I said I don't agree with the approach myself.
I am not sure if you can donate money to the government, without throwing off their books. I simply don't know if that is possible.
Warren BUffet, the renowned investor and the world’s second richest man, told Senate Democrats that wealthy Americans need to pay higher taxes, giving Democrats something to mull as they address healthcare reform and soaring federal deficits.
Senate Democrats met with Buffett for more than an hour over lunch Thursday, peppering him with questions about the economy, said lawmakers in attendance.
“He said rich people are not paying enough taxes,” said Sen. Claire McCaskill (D-Mo.). “It was interesting to see someone who is such an aggressive capitalist, who believes so much in our capitalist system, saying we’ve got the scales way too heavily toward people who are very, very wealthy.”
Buffett told lawmakers that because of the cuts to the capital gains tax passed under former President George W. Bush, he pays taxes at a lower rate than some of his company’s employees.
It is an argument the investor has made before. Buffett said he paid a 16.5 percent tax rate on all his income because the tax rate on investment dividends and long-term capital gains is only 15 percent.
I seem to recall an instance where Buffet compared his tax returns to mid level employee of one of his firms, and he paid less of a percent of taxes.
Buffett is definately one rich guy who gets it. He knows that welfare capitalism is the only form of capitalism that actually works. Its refreshing to see a rich person think like this.
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