“If you work, save, and invest, the fruits of that investment is taxed less.”
Not really. As no one seems to remember in this mad age of the Buffet Argument, we have a national VAT tax, which eats away at potential return. Because said tax is paid by the fictional personage of the corporation, people forget it affects actual people’s income. Of course, corporations are not the only means of investing, but you know what I mean.
“Buffet proves the point that lower taxes on The Wealthy results in higher federal revenue”
Can I stop you right there and ask whether you really think the wealthy are taxed less? I agree with the general drift of your argument, but that’s not the world we live in. I can’t believe Buffet has managed, against the plain truth, to con people into thinking the rich pay less. Except that I know, per some writer whose name eludes me, “the Credulous Man finds most delight in believing strange things, and the stranger they are, the easier they pass with him.”
All because some silly semantic trick with the word “income.”
No, the wealthy are not taxed less, they pay the bulk of all taxes. Better precision would have been to say lower tax rates.
Buffet’s memo shows that federal revenue goes up as you lower tax rates, which still says the wealthy pay more tax than us little people do.