Roger
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Warren Buffett is a baboose
Perhaps, Buffett is in a lower percentage because his "earned" income is lower than his secretary. He pays himself little on purpose. His "unearned" income is phenominally larger than his "earned" income. I don't trust Buffett.:rage:
For all those who squeal about tax breaks and tax dodges, the answer is very simple; eliminate all the tax breaks and just lower the marginal tax rates across the board, like Reagan did. But, the failures who succeeded him; George Bush Sr. and Bill Clinton sought to undo all the tax reforms that Reagan accomplished. Make the rates; 7%, 15% and 20%, but if you want total fairness go with a flat tax of 12% with NO DEDUCTIONS!:eusa_clap Instead of all this arguing over the minimum wage lower sales taxes, excise taxes, gas taxes, utility taxes. Those will help the more a lot more. Why are some states taxing food, over the counter medicines etc? Those hurt the poor way more than any increase in the minimum wage.
airfrogusmc said:JP, Warren Buffett second richest man in the world said he finds it obscene that he is in a lower percentage than his secretary.
I find it obscene being self employed I pay over 30% and big oil got a 14 billion dollar tax break after posting record profits.
Perhaps, Buffett is in a lower percentage because his "earned" income is lower than his secretary. He pays himself little on purpose. His "unearned" income is phenominally larger than his "earned" income. I don't trust Buffett.:rage:
For all those who squeal about tax breaks and tax dodges, the answer is very simple; eliminate all the tax breaks and just lower the marginal tax rates across the board, like Reagan did. But, the failures who succeeded him; George Bush Sr. and Bill Clinton sought to undo all the tax reforms that Reagan accomplished. Make the rates; 7%, 15% and 20%, but if you want total fairness go with a flat tax of 12% with NO DEDUCTIONS!:eusa_clap Instead of all this arguing over the minimum wage lower sales taxes, excise taxes, gas taxes, utility taxes. Those will help the more a lot more. Why are some states taxing food, over the counter medicines etc? Those hurt the poor way more than any increase in the minimum wage.