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Buffett Uses Selective Data on Tax Stance
WSJ ^ | Dec. 28, 2015

Posted on 12/29/2015 6:17:18 AM PST by george76

By suggesting the richest 400 Americans have seen their effective tax rate drop by one-third and thus they should back a 30% minimum tax rate, Mr. Buffett is deflecting attention toward rates and away from itemized deduction and tax-avoidance regulations.

It is interesting to see Warren Buffett using selective data to steer the Hillary Clinton tax plan away from tax reform that would truly unhinge the superwealthy .. By suggesting the richest 400 Americans have seen their effective tax rate drop by one-third and thus they should back a 30% minimum tax rate, Mr. Buffett is deflecting attention toward rates and away from itemized deduction and tax-avoidance regulations.

What Mr. Buffet does not highlight is that for 2013 the millionaire club claimed tax deductions totaling $145 billion. Mrs. Clinton might be credible as a tax reformer if she proposed the elimination of itemized deductions for the millionaire club. She'd really be on the forefront if her plan eliminated Section 664 of the Revenue Code (Charitable Remainder Trusts), which allows Mr. Buffett and other millionaires who have highly appreciated stock to avoid paying tax on the gain while reducing their estate-tax liability. As Mrs. Clinton is also a member of the millionaires club,

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; Politics/Elections; US: Nebraska
KEYWORDS: billiondollarmarxist; buffett; hillaryclinton; taxes; taxplan; warrenbuffett

1 posted on 12/29/2015 6:17:18 AM PST by george76
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To: george76

Warren is a big ahole and not worth the time of day.


2 posted on 12/29/2015 6:18:21 AM PST by bmwcyle (People who do not study history are destine to believe really ignorant statements.)
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To: george76

Warren Buffet is a full pantload. He babbles about “the rich” paying hire taxes while he shelters his in tax exempt schemes. He basically is all about kicking out the rungs on the ladder behind him.


3 posted on 12/29/2015 6:22:49 AM PST by Lurkina.n.Learnin (It's a shame enobama truly doesn't care about any of this. Our country, our future, he doesn't care)
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To: george76

Warren Buffett is a domestic economic terrorist and should be taken out with a drone attack.


4 posted on 12/29/2015 6:24:07 AM PST by Arm_Bears (Biology is biology. Everything else is imagination.)
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To: Lurkina.n.Learnin
How did Keystone help your railroad income having to transport oil?

How many times have Berkshire Hathaway paid a dividend?

Your worth over 50 Billion Dollars and yet you plan to give give it all to the Bill ad Melinda Gates Foundation because you claim the Government would waster your inheritance taxes?

Crony Capitalist at its worst

5 posted on 12/29/2015 6:27:55 AM PST by scooby321
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To: george76

Well, Warren, if you feel so strongly, pull out the ole checkbook and send (a lot) more in. F*ckin’ hypocrite!


6 posted on 12/29/2015 6:27:59 AM PST by Road Warrior ‘04 (Molon Labe! (Oathkeeper))
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To: george76

Warren is a guilt-ridden filthy-rich guy who goes out of his way to prove that he is just an average “Joe” who identifies with the common man.


7 posted on 12/29/2015 6:32:15 AM PST by windsorknot
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To: george76

“Taxes for thee and not for me!” - WB


8 posted on 12/29/2015 6:34:20 AM PST by a fool in paradise (The goal of Socialism is Communism. Marx and Lenin were in agreement on this.)
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To: george76

Bottom line, Buffett is a stock picker, a good one at that, who thinks he is an economist. Warren, because you are good at picking horses does not mean you can tun a racetrack.


9 posted on 12/29/2015 6:35:15 AM PST by chuckee
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To: scooby321

Crony Communism or Crony Fascism. Capitalism ain’t got nothing to do with it.


10 posted on 12/29/2015 6:35:40 AM PST by a fool in paradise (The goal of Socialism is Communism. Marx and Lenin were in agreement on this.)
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To: windsorknot

Warren and Soros are of the same cut.


11 posted on 12/29/2015 6:47:08 AM PST by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: george76

Buffett is a Democrat LIAR.

I apologize for being redundant.


12 posted on 12/29/2015 7:19:56 AM PST by Prov1322 (Enjoy my wife's incredible artwork at www.watercolorARTwork.com! (This space no longer for rent))
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Comment #13 Removed by Moderator

To: george76

Hillary helps the Big Boys... the little people get the back of her hand.


14 posted on 12/29/2015 8:02:46 AM PST by GOPJ (Trump's instincts are as formidable as his courage,he sees the nation bleeding out..DWest)
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To: george76

Buffett is just reading from the left-wing playbook. The left isn’t going to tax the rich, they are the rich.


15 posted on 12/29/2015 8:20:23 AM PST by <1/1,000,000th%
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To: george76

what does this ahole care what the rate is ....HE DOESN’T PAY ALL HIS TAXES AND OWES A COUPLE OF BILLION IN BACK CONTESTED TAXES.... AND GETS MEDALS FROM OBOZO TO BOOT.... PAY TO PLAY PAYS.... PAYS TO AHVE A FOUNDATION... PAYS TO WROTE THE TAX LAWS... AND PAYS TO HAVE A LEFT BIASED IRS....
America is a total JOKE...... the LAW is politically enforced and right now there IS NO LAW ... Loretta Lynch is a handpupet of booze.... whose maunfuntion is to make sure there is a muslim jihadi network COVERUP....
wnat proof..... where is the indictment of hillary clinton.... and dont tell me it is under investigaiton because there is enough evidence already to indict...


16 posted on 12/29/2015 8:34:10 AM PST by zzwhale
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To: george76

Warren Buffett’s tax plan carries his same conviction and fervor as did his marriage vows.


17 posted on 12/29/2015 8:53:04 AM PST by Cyman
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