[Alberta's Child]

What Warren Buffett has done, of course, is lump Social Security contributions (payroll taxes) with the federal income tax. Then, he complains (so to speak) that his Social Security taxes aren’t high enough. His claim makes no sense if Social Security taxes are excluded. Considering the basic federal income tax only, he pays at a higher rate than his assistants. Far more.

I beg to differ with the author of this article. What Warren Buffett has done is no different than what Congress itself has done for years (since 1969, I believe) -- i.e., treat payroll taxes as no different than other sources of tax revenue in Federal budget calculations.

This isn't to suggest that Buffett is right when he claims that "rich people" should be paying more taxes in this country. In fact, the guy is an opporunistic fraud who would probably NEVER end up paying effective tax rates as high as his employees' tax rates -- no matter how the tax code changes.

[cgbg]

"Taxing rich people" has become pure rhetoric in the modern age where rich people can move money (and themselves) around and restructure their sources of income to avoid paying high taxes.

"The rich" are not sheep that will sit still for the slaughter.

That distinction belongs to the middle class.

:-(

[sig226]

And just think, if Warren so seriously thinks the government needs more of his money, he could send them some money any time he wanted to do so. It’s not like he’s running low on the stuff.