Posted on 08/15/2011 3:53:55 AM PDT by tobyhill
Billionaire Warren Buffett urged lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.
"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times.
Buffett, one of the world's richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744.
"That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent," he said.
(Excerpt) Read more at news.yahoo.com ...
Why doesnt Buffett just fire his CPA’s and lawyers and take the standard deduction?
lets see: Buffet SELLS death tax INSURANCE.
buffett does NOT write and extra “tax me more” voluntary check.
buffett has a trust which is set up for when he dies to avoid the death tax AND a good chunk goes to pro-abotion causes.
he should stick to fixing his own downgrade.
lets see: Buffet SELLS death tax INSURANCE.
buffett does NOT write and extra “tax me more” voluntary check.
buffett has a trust which is set up for when he dies to avoid the death tax AND a good chunk goes to pro-abotion causes.
he should stick to fixing his own downgrade.
buffet’s defenition of wealth is the fact that anyone can “rent” a boat or fly somewhere.
he has an IMPUTED wealth vision.
“The super rich do not pay taxes, they collect taxes.”
Excellent, a new tagline
“The super rich do not pay taxes, they collect taxes.”
Excellent, a new tagline
Doesn’t Buffet invest tons of his stash in tax-free municipal bonds? No wonder he doesn’t care about the federal tax rates.
Like others have said on this thread, what is stopping him, Bill Gates, and other billionaire rats from writing a huge check to the government if they feel they are undertaxed?
The top 1% earn 20% of the income in America, yet they pay 40% of the federal income taxes. Their taxes should be CUT by 50%. Earn 20% of the income, pay 20% of the federal income taxes.
Giving more money to the federal government is like giving booze to an alcoholic. Both are a bad idea and encourage bad behavior.
Maybe he is trying to get to heaven by cleaning things up before he “goes.” Wonder what his rich pals think of his idea. Probably: "STFU YOU IDIOT!" I wouldn't be surprised if this is another Buffet scam for after he shuffles off.
He can buy land, start fresh new businesses and put people back to work. He can call all of these new towns something like...Warrentown.
Sounds good....Warrentown, Illinois....would be my first choice.
Or, since US is in hock to China, why doesn't Buffett get into the action there?
“Warrenmoney” to work on the debt or deficit - whichever or both!
Buffett did this riff back in 2004 for Kerry, just doing his bit for the party so Obozo can go back to class warfare, and avoid the economy.
“Before we get around to calling all high income “unfair”, we had best ask the other question: If I am not ethically entitled to the income I have earned legitimately in the economy, who is more entitled? Suppose that we ignore the drainage through the whole welfare bureaucracy and assume that every dollar taxed away from me goes to the shiftless wino on the streets of Washington. Is that a “fair” transaction?”
James Buchanan
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