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To: PENANCE
...who pays a greater percentage of their income (wealth) as tax?

You are right! You DON'T know much about taxation! Equating income with wealth is a VERY bad mistake made by many but it is VERY instructive never-the-less.

Warren Buffet, a name we have heard a lot recently, takes in BILLIONS of dollars annually but takes only $100, 000 as his personal compensation which he pays income taxes on. There are many more who do the exact same thing. (Again that little What is the definition of "income" conundrum arises!) They live very well, consuming like crazy, but pay very little if anything in income taxes. With a sales tax in place that would not be possible!

32 posted on 11/01/2011 7:19:43 AM PDT by Bigun ("The most fearsome words in the English language are I'm from the government and I'm here to help!")
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To: Bigun
Warren Buffet, a name we have heard a lot recently, takes in BILLIONS of dollars annually but takes only $100, 000 as his personal compensation which he pays income taxes on.

The mistake is YOURS, not knowing what the word "INCOME" means.

Those BILLIONS that he "takes in" (your words, not mine), are his INCOME. His IN COME. It COMES IN. He TAKES IT IN. It is his IN COME. INCOME.

The fact that his "SALARY" is not the sum total of his "INCOME" is a separate matter.

What you own is your wealth. Your wealth is what you TAKE IN --- your IN COME, INCOME. Where else do you figure wealth COMES from? And how do you get it, if it does not COME IN ("in-come", ... get it?) to you?

I will converse with you further when your grasp of the English language improves.

35 posted on 11/01/2011 8:11:09 AM PDT by PENANCE
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