buffett is a hypocrite of the first order... he is free to pay as much as he wants to in taxes, and he choses to pay the bare minimum his tax lawyers can't shield him from
Posted on 09/22/2011 5:14:31 PM PDT by Nachum
Bluff Called. Senate Republicans demanded that Warren Buffett, the namesake of Obama’s tax hikes, turn over his tax returns so they can be compared to his secretary’s returns. Buffett says his secretary pays more taxes than he does.
Bluff Called. Senate Republicans demanded that Warren Buffett, the namesake of Obama’s tax hikes, turn over his tax returns so they can be compared to his secretary’s returns. Buffett says his secretary pays more taxes than he does.
Republicans want to see Buffett’s tax returns. The Hill reported:
The GOP is making a concerted effort to pressure billionaire investment guru Warren Buffett to release his tax returns to the public.
Republicans say Buffett — the public face of Obama’s proposed “Buffett rule” to increase taxes on the wealthy — needs to reveal his finances if his views on tax rates are going to serve as the basis for Obama administration policy.
(Excerpt) Read more at thegatewaypundit.com ...
buffett is a hypocrite of the first order... he is free to pay as much as he wants to in taxes, and he choses to pay the bare minimum his tax lawyers can't shield him from
Should check out all those Dems as well; the ones with 'clucking tongues' over their 'tax the rich', feeding frenzy
Hilarious!
Now we’ll have even more proof he’s a lying liar.
Actually, Buffet could be correct, if he is referring to the fact that he pays ~8.00% on the first $100,000 for his FFICA and Medicare tax, which is a minute amount. If his secretary pays ~8% on her total earnings of $100,000, she is indeed paying a much higher rate. He didn’t say taxes, he said rate.
About time.
good.
He’s in arrears more than $2Billion on his OWN taxes. Why doesn’t he just write a check instead of calling everybody else “cheats?” No hypocrisy here...
This is great.
Put up or Shut up Warren.
If true, why doesn't the IRS simply mercilessly seize and liquidate his assets like they would do with the rest of us "little" people.
Anyone in arrears to the IRS to the tune of $2 billion is in no position to lecture honest taxpayers on the subject of taxes.
I heard it was one billion, not two billion, but I could be wrong. it’s Buffet’s Berkshire-Hathaway that owes the money. Maybe Buffet is working off the money that is owed by supporting Obama and doing those ads.
The GOP finally grew a pair???!!! When will Boehner and Rove start whining about remaining civil?
To our TEA Party freshmen. Will you please keep those two losers liquered up and hidden in a back room somewhere? Didn’t Obama keep members of the press locked in a closet? That sounds like a precedent to me!
We need to provide full and complete information on the tax effects.
The individual tax rate for long term capital gains and dividends is 15% and not subject to the AMT (Alternate Minimum TAX of 26 or 28%).
This income is double taxed, as it is subject to the corporate income tax at 34 to 39% (for taxable income over $100,000). Dividends are not deductible against corporate income taxes, and capital gains generally comes from profits that are taxed at the corporate level.
So stop believing that capital gains and dividends are only taxed at 15% - it is more like 50% plus.
And is is subject to triple taxation when the estate and gift tax is applied. And that doesn’t count the state income, sales, gasoline, alcohol, etc. etc taxes
President Zero and Warren Buffet are LYING for political gain.
He never said this. He only claimed that she paid a higher RATE. Since a lot of his income comes from dividends, which are taxed at 15%, this is not hard to believe.
Easily remedied: Stop screwing his employee by paying her in stock instead of dollars. If she's willing to take the risk with him of course..
Buffet is too busy setting up a $35,000/plate fund raiser for Obama. I wonder if Buffet’s secretary gets to go?
That doesn't make sense. If he paid her in stock she would have to declare the value of it as ordinary income, so if the value of the stock matched her previous dollar salary she would see no change in income tax rate. If she later sold it she could use the value at the time of transfer as the basis for computing capital gains and she would pay a lower tax rate on any capital gains she had.
Of course 1 share of Berkshire stock is worth about $100,000 (just went below yesterday!)
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