Quote:
Originally Posted by Riot
The tax rate for Buffett's income level is 35%. Buffett payed 17.4%. Looks like "far less" to me. Looks like "far less" to Buffett, too. That's his deal. Not mine. I just posted that he did a rare thing, in pursuit of the change he wants. You might read what he has to say, and why he is lobbying for a tax rate change, if you want to comment on it.
You guys (you, Slot, Dell) are hilarious: you all have negative comments about something you've heard a little about, you base your arguments on partial information you read here, and you absolutely refuse to be fully informed about what you're bitchin' about, because it's so much easier to argue your imaginary "what ifs" than what someone like Buffett or the OWS crowd has really said on the record.
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Honest question: do you understand the difference between income earned by salary or wages (subject to the federal income tax) and income earned off investments (subject to capital gains taxes)? Further, do you understand that capital gains taxes are significantly lower than income taxes in order to encourage capital investment? Lastly, the only ways to make Warren Buffett pay more than 17.4 percent in taxes is to give him a larger salary (his is $100k and has been for 30 years), eliminate deductions, or to tax capital gains at a significantly higher rate. Pick your poison.