If he pay himself $1 salary then pay %50 taxes. Thats nothing. If he want to call our bluff, then he should pay the 50% on his capital gain that his company get. Watch him cry poor then
Buffet got rich by sheltering his capital gains in his insurance companies.
What a BS headline. He is running away from a very good point. If you want to pay more taxes...THEN DO IT! Why hide behind the “Gee-I want to pay more but they won’t raise my rates”
He gets called out on it and his only response is “OK-I’ll pay more as soon as you do” and the liberal Time magazine says this is calling Republicans bluff.
TOTAL BS
You 1st,
Yuh fat &^%$K...
Here’s an idea Warren... why don’t you pay what you already owe, you ignorant, liberal a$$ clown.
He should have issued that challenge to the party which wants to raise taxes.
If Buffet is so concerned why doesn’t he simply just sit down and write a nice big fat check to the US Treasury? Why is he making this out to be a “if you do this, then I will do this” type situation. Because it’s all for public consumption and the stupid republicans, instead of saying, “you were the one complaining Mr. Buffet, so here’s your chance to make it all better”, they’ll stumble all over themselves trying to figure out how their response will ‘sound’ and be ‘perceived’.
This the guy who thought estate taxes are great things.
Then he sheltered his $ 46 billion estate in four foundations headed by each of his four offspring, so he would pay zero in estate taxes.
FUWB.
Let's see. McConnell is worth about $10 million. Buffett is worth about $46 Billion. Make it 4,600 for one or shut up.
Did Buffet ever suggest that his secretary’s taxes be cut so that she pays the same percentage as he does?
I wish the media would challenge his claim that he pays a lower rate than his secretary...I mean request to see both returns, side by side and compare.
I’m sure the bulk of the difference is not in actual INCOME tax. Rather, it is likely that 100% of his secretary’s income is subject to the 6% social security tax, while probably zero percent of Buffet’s is - since he doesn’t earn income, but instead gets a return on investment.
The other discrepancy is that his secretary’s tax bracket is probably higher than his 15% cap gain tax. Now the bracket rate may be higher, but we have no idea how many deductions she has, to know whether or not she actually pays more than 15% of income. I make $75k and my federal income tax liability is 8%, after deductions - pretty average. So, I doubt his secretary really pays a higher rate - its just that the listed bracket rate is higher.
But this really just brings us back to the argument over whether or not to raise cap gain taxes....and even Obama has admitted that raising these hurts the economy. In fact, Buffet and Obama are lock step in this - the only reason to do is has to do with ‘fairness’....even though the federal government will collect less money.
And that is monumentally stupid...and nothing more than class warfare.
One would think someone that rich, who's used to dealing in numbers that size, that it's completely impossible to pay down the debt with voluntary contributions. What an idiot.
WB isn’t doing a damn thing. HE posited a higher tax rate was good for people like him. HE is the one spewing such crap.
All Mitch did was say “Okay, Warren, put your money where your mouth is.”
NOW Warren says he won’t give unless someone else gives. Ergo, Warren is a hypocrite.
Warren Buffet needs to pay the back taxes his company owes first. Then he can talk about meeting a challenge.
Tax The Rich? Good Luck With That By WALTER WILLIAMS
Read it and weep.