-
-
Warren
Since he's so hot on raising taxes, I was thinking this guy should keep his mouth shut and just send in a voluntary check for 75%-85% of his annual earnings...lead by example. It doesn't appear that's going to happen. -
Depending on his tax bracket, and since it would be a contribution to a governmental agency, he would get a charitable deduction for it., so it might only cost him 48%/Originally posted by DTS View Post
Funny thing, I've noticed on my telephone I missed two phone calls from Omaha,nebraska.
Was it Warren needing tax advice?ChEAr$,
Harlan Lunsford, EA n LAComment
-
-
Do as I say not as I do.Comment
-
Would Warren Buffet voluntarily paying extra tax make much of a difference in tax revenues? I don't think so. As an individual, even a very wealthy individual, his additional tax would be a drop in the bucket in tax revenue.
It does not surprise me that he pays the required minimum and not more, yet feels he shouldn't pay less in tax than his secretary. If you brought the tax rates for everyone who has as much income or more as his secretary to the level his secretary pays, you would greatly increase tax revenues far above what he individually can do. With the company, it has to answer to all it's shareholders not just one shareholder so it doesn't surprise me it also tries to minimize it's tax.
I think a lot of the criticism he gets is not against raising taxes on certain people, but raising taxes in general. As someone who probably pays a tax rate closer to his secretary than to Warren Buffet, I hear and understand the complaints about tax burden. I don't get $5,000+ refunds from refundable credits. I see a large chunk of my paycheck get taken away to support government, and I don't always agree with how government spends my tax dollars. And he wants the government to take more taxes? All that you have to do is say "Warren Buffet wants to raise taxes" and people will say "That's stupid, I pay too much already!" Even though the people who say that aren't even being discussed (other than comparing the higher tax rates they pay compared to the rates Buffet pays.)
If he instead said he wanted to reduce the maximum tax rate to be equal to his tax rate, he'd probably be a lot more popular, but opposed by anyone who doesn't want to dramatically cut government. I don't think either of the major political parties could run the government programs they want to run if everyone paid as low a tax rate as Warren Buffet does.Comment
-
OOPS of the Omaha type
And then there is this little item:
...while Warren Buffett complains that the rich aren’t paying their fair share his own company has been fighting tooth and nail to avoid paying a larger share.
“Obvious question: If Buffett really thinks he and his 'mega-rich friends' should pay higher taxes, why doesn’t his firm fork over what it already owes under current rates?” the Post opined.
“Likely answer: He cares more about shilling for President Obama -- who’s practically made socking “millionaires and billionaires” his re-election theme song -- than about kicking in more himself.”
FEComment
Comment