Americans Favor "Buffett Rule" by 60% to 37%

[The T]

LINK

Bloomberg News reporter Richard Rubin won’t be invited to any state-controlled-media dinner parties for a long time. Liberals are sure to be furious with him for committing an act of journalism.

As evidence, take his headline: “Buffet Rule or Not, Most Rich People Already Pay.” Here’s the first paragraph: “President Obama’s sales pitch for the so-called Buffett Rule is simple: It’s only fair that those who make more than $1 million a year should pay a higher tax rate than middle-class workers. Here’s what he tends not to mention: for the most part, they already do.”

For all the figures, look up the article, but here’s all you need to know. Warren Buffett’s tax situation is the exception, not the rule. Most rich people are paying a tax rate of almost 30 percent. That’s a lot higher rate than anybody else is paying.

Bloomberg: Buffett Rule or Not, Most Rich People Already Pay - Richard Rubin



_________________________

Obama's "Clas Warfare" Machine marches on.

Here is the entire article:

President Obama’s sales pitch for the so-called Buffett Rule is simple: It’s only fair that those who make more than $1 million a year should pay a higher tax rate than middle-class workers. Here’s what he tends not to mention: For the most part, they already do.

Latching onto Warren Buffett’s lament that the law allows him to pay a lower rate than his secretary, Obama is urging Congress to pass a bill that would require households with adjusted gross incomes exceeding $2 million a year to pay a minimum tax rate of 30 percent, beginning in 2013. Households with incomes from $1 million to $2 million would see their taxes increase on a sliding scale up to 30 percent.

Obama is making tax fairness a central campaign issue—no surprise, since it allows the president to continually remind voters that Mitt Romney, who opposes the Buffett Rule as a burden on business, is one of those rich guys who pays tax rates in the mid-teens despite making millions. “Right now, the share of our national income flowing to the top 1 percent has climbed to levels we haven’t seen since the 1920s,” Obama said on April 10 in a speech at Florida Atlantic University. “Those same people are also paying taxes at one of the lowest rates in 50 years.”

Yet Romney—and Buffett, for that matter—are the exception. According to government tax data, the median effective tax rate for the middle 20 percent of U.S. taxpayers is 13.3 percent, including income, payroll, and corporate taxes. The top 1 percent of taxpayers pay a median rate of 29.6 percent, according to the 2012 Economic Report of the President. Just one-tenth of these highest-income households have tax rates of 8.7 percent or less.

If the Buffett Rule—officially named the Paying a Fair Share Act of 2012—became law, the number of people required to pay substantially more in taxes would be relatively small. Of the 217,000 households that would be affected by the rule, 4,000 will have incomes exceeding $1 million and tax rates below 15 percent, according to estimates for 2015 by the Tax Policy Center, a nonpartisan research group. The average rate, including payroll tax, for the middle 20 percent of taxpayers will be 15.9 percent, the center projects.

Although investors including Buffett and Romney—who are now taxed no more than 15 percent on capital gains and dividends—would be “clobbered” by the Buffett Rule, says Tax Policy Center senior fellow Roberton Williams, the tax rate of top executives, movie stars, and pro athletes wouldn’t change as much because their pay is already taxed as ordinary income. High-income households with a mix of ordinary and capital income currently have rates from 15 percent to 30 percent. Their taxes would rise, though they already pay more than middle-class households.

Democrats say the law has another benefit: It would increase U.S. tax revenue by $47 billion over the next decade, according to the Joint Committee on Taxation, the nonpartisan scorekeeper for Congress. Of course, that assumes the bill can get through Congress—which it almost certainly can’t. A procedural vote is set for April 16 in the Senate, where Democrats likely won’t overcome Republican opposition. In the GOP-led House, it will never see daylight. Representative Paul Ryan (R-Wis.), chairman of the House Budget Committee, mocked the Buffett Rule as “budget pixie dust” that would pay for only 6 percent of Obama’s proposed deficit spending. Not that he’s arguing for a larger tax hike. Ryan and other Republicans want to close the country’s future fiscal gap with spending cuts alone.

The president may be just as happy to have an issue to campaign on as a law to sign. “It may be an uphill battle,” White House Press Secretary Jay Carney said this week. “But it’s not an impossible battle.” Either way, the bill named after a billionaire is helping Obama make himself out to be a champion of the little guy.

The bottom line: Among the superrich, Romney’s 13.9 percent tax bill is the exception, not the rule. The top 1 percent pay a median rate of 29.6 percent.

217,000 households would be effected. You really want to risk the entire election on that?

And that's the POINT.

Buffett Could pay the entire TAB and remain a Billionaire.

"Obama's Got NOTHING"...but Class Warfare.

 

[Remodeling Maidiac]

Of course they may favor it, they don't have to pay it.

How stupid do you have to be to understand their motives?

 

[g5000]

The rich say tax the rich too...

Poll: Well-off say tax the rich

Nice try, but FAIL.

That is a poll of people who make $100,000 who are saying people who make ten times as much as they do should be taxed more.

 

[g5000]

If you really want to impress me, show me a poll where a super majority of people vote for a tax increase on themselves.

 

[candycorn]

LINK



Bloomberg: Buffett Rule or Not, Most Rich People Already Pay - Richard Rubin



_________________________

Obama's "Clas Warfare" Machine marches on.

Here is the entire article:

President Obama’s sales pitch for the so-called Buffett Rule is simple: It’s only fair that those who make more than $1 million a year should pay a higher tax rate than middle-class workers. Here’s what he tends not to mention: For the most part, they already do.

Latching onto Warren Buffett’s lament that the law allows him to pay a lower rate than his secretary, Obama is urging Congress to pass a bill that would require households with adjusted gross incomes exceeding $2 million a year to pay a minimum tax rate of 30 percent, beginning in 2013. Households with incomes from $1 million to $2 million would see their taxes increase on a sliding scale up to 30 percent.

Obama is making tax fairness a central campaign issue—no surprise, since it allows the president to continually remind voters that Mitt Romney, who opposes the Buffett Rule as a burden on business, is one of those rich guys who pays tax rates in the mid-teens despite making millions. “Right now, the share of our national income flowing to the top 1 percent has climbed to levels we haven’t seen since the 1920s,” Obama said on April 10 in a speech at Florida Atlantic University. “Those same people are also paying taxes at one of the lowest rates in 50 years.”

Yet Romney—and Buffett, for that matter—are the exception. According to government tax data, the median effective tax rate for the middle 20 percent of U.S. taxpayers is 13.3 percent, including income, payroll, and corporate taxes. The top 1 percent of taxpayers pay a median rate of 29.6 percent, according to the 2012 Economic Report of the President. Just one-tenth of these highest-income households have tax rates of 8.7 percent or less.

If the Buffett Rule—officially named the Paying a Fair Share Act of 2012—became law, the number of people required to pay substantially more in taxes would be relatively small. Of the 217,000 households that would be affected by the rule, 4,000 will have incomes exceeding $1 million and tax rates below 15 percent, according to estimates for 2015 by the Tax Policy Center, a nonpartisan research group. The average rate, including payroll tax, for the middle 20 percent of taxpayers will be 15.9 percent, the center projects.

Although investors including Buffett and Romney—who are now taxed no more than 15 percent on capital gains and dividends—would be “clobbered” by the Buffett Rule, says Tax Policy Center senior fellow Roberton Williams, the tax rate of top executives, movie stars, and pro athletes wouldn’t change as much because their pay is already taxed as ordinary income. High-income households with a mix of ordinary and capital income currently have rates from 15 percent to 30 percent. Their taxes would rise, though they already pay more than middle-class households.

Democrats say the law has another benefit: It would increase U.S. tax revenue by $47 billion over the next decade, according to the Joint Committee on Taxation, the nonpartisan scorekeeper for Congress. Of course, that assumes the bill can get through Congress—which it almost certainly can’t. A procedural vote is set for April 16 in the Senate, where Democrats likely won’t overcome Republican opposition. In the GOP-led House, it will never see daylight. Representative Paul Ryan (R-Wis.), chairman of the House Budget Committee, mocked the Buffett Rule as “budget pixie dust” that would pay for only 6 percent of Obama’s proposed deficit spending. Not that he’s arguing for a larger tax hike. Ryan and other Republicans want to close the country’s future fiscal gap with spending cuts alone.

The president may be just as happy to have an issue to campaign on as a law to sign. “It may be an uphill battle,” White House Press Secretary Jay Carney said this week. “But it’s not an impossible battle.” Either way, the bill named after a billionaire is helping Obama make himself out to be a champion of the little guy.

The bottom line: Among the superrich, Romney’s 13.9 percent tax bill is the exception, not the rule. The top 1 percent pay a median rate of 29.6 percent.

217,000 households would be effected. You really want to risk the entire election on that?

And that's the POINT.

Buffett Could pay the entire TAB and remain a Billionaire.

"Obama's Got NOTHING"...but Class Warfare.

Okay....

Strange how you morphed from the 217,000 affected parties. You may want to brush up on your definition of politics.... Really makes you wonder why the GOP is so beholden to the 217,000 affected parties...

 

[The T]

Here is the entire article:


217,000 households would be effected. You really want to risk the entire election on that?

And that's the POINT.

Buffett Could pay the entire TAB and remain a Billionaire.

"Obama's Got NOTHING"...but Class Warfare.

Okay....

Strange how you morphed from the 217,000 affected parties. You may want to brush up on your definition of politics.... Really makes you wonder why the GOP is so beholden to the 217,000 affected parties...

I didn't 'morph' anywhere.

Only your MIND did.

 

[Zander]

According to a new Gallup poll released Friday, a majority of Americans support the proposed Buffett Rule, which would require individuals earning $1 million or more per year to pay at least 30 percent of their income in taxes.

Six in 10 Americans favor Congress' passing the so-called "Buffett Rule," which would mandate a minimum 30% tax rate for Americans with a household income of $1 million or more per year. Majorities of both Democrats and independents favor the policy, while a majority of Republicans oppose it.

Americans Favor

Here's another area where the GOP is out of touch with the average American.

70% of the country was in favor of slavery. I guess that makes it OK.

 

[Misty]

That's because most people don't know that buffet owes 1 billion in back taxes that he has been fighting not to pay for more than 10 years.

 

[The T]

That's because most people don't know that buffet owes 1 billion in back taxes that he has been fighting not to pay for more than 10 years.

Yep...and NOTE? Obama says nothing about it...but champions a 'Rich guy' that is battling paying taxes.

Both sides Obama plays.

 

[candycorn]

And that's the POINT.

Buffett Could pay the entire TAB and remain a Billionaire.

"Obama's Got NOTHING"...but Class Warfare.

Okay....

Strange how you morphed from the 217,000 affected parties. You may want to brush up on your definition of politics.... Really makes you wonder why the GOP is so beholden to the 217,000 affected parties...

I didn't 'morph' anywhere.

Only your MIND did.

So...just to bring this to a conclusion; you're stating that going to bat for the 217,000 affected parties--ACCORDING TO YOUR LINK THAT IS HOW MANY THERE WOULD BE THAT ARE AFFECTED BY THE BUFFET RULE--is a political winner for the Republicans?

Cool; Obama may win 35 states instead of 27 if the Romney camp agrees with you.

 

[candycorn]

Dear Gawd, you're still WHINING over THAT..from me posting a article? you really a joke and a freaking loser....waaa waaa

Again....

Just wondering if you stand by your assertions about Obama's birthplace.

A simple yes or no. Why are you afraid to stand by YOUR OWN statements. Then again, considering the idiotic nature of your posts, I would run from them too if I were you. So much for the "internet tough guy" routine, huh? LOL

I know it hurts...waaa waaaa

again, not jumping through your hoops..get someone else to play with ya..and what I think is none of your fucking business...see ya

You do realize this is a message board....?

Wow, that was incredibly dense even for you.

 

[The T]

Okay....

Strange how you morphed from the 217,000 affected parties. You may want to brush up on your definition of politics.... Really makes you wonder why the GOP is so beholden to the 217,000 affected parties...

I didn't 'morph' anywhere.

Only your MIND did.

So...just to bring this to a conclusion; you're stating that going to bat for the 217,000 affected parties--ACCORDING TO YOUR LINK THAT IS HOW MANY THERE WOULD BE THAT ARE AFFECTED BY THE BUFFET RULE--is a political winner for the Republicans?

Cool; Obama may win 35 states instead of 27 if the Romney camp agrees with you.

Your spin is amazing. A ride I won't embark upon.

Sorry.

 

[Remodeling Maidiac]

I bet an even larger percentage support in depth driving tests for the elderly too. Until of course they are elderly themselves.

Polls that have no effect on the person taking the poll are so fucking stupid.

 

[The T]

I bet an even larger percentage support in depth driving tests for the elderly too. Until of course they are elderly themselves.

Polls that have no effect on the person taking the poll are so fucking stupid.

Polls can be made to suit any agenda...only fools belive them without having read them.

 

[candycorn]

I didn't 'morph' anywhere.

Only your MIND did.

So...just to bring this to a conclusion; you're stating that going to bat for the 217,000 affected parties--ACCORDING TO YOUR LINK THAT IS HOW MANY THERE WOULD BE THAT ARE AFFECTED BY THE BUFFET RULE--is a political winner for the Republicans?

Cool; Obama may win 35 states instead of 27 if the Romney camp agrees with you.

Your spin is amazing. A ride I won't embark upon.

Sorry.

Well, from a political standpoint, the ones going to bat for the 217K are Republicans. In this bi-polar argument, the other side is obviously going to be greater than 217K and they will be on the Democratic side of the ledger as a party "going to bat" for them.

Spin? No; just the facts of the matter.

Sorry.

 

[The T]

So...just to bring this to a conclusion; you're stating that going to bat for the 217,000 affected parties--ACCORDING TO YOUR LINK THAT IS HOW MANY THERE WOULD BE THAT ARE AFFECTED BY THE BUFFET RULE--is a political winner for the Republicans?

Cool; Obama may win 35 states instead of 27 if the Romney camp agrees with you.

Your spin is amazing. A ride I won't embark upon.

Sorry.

Well, from a political standpoint, the ones going to bat for the 217K are Republicans. In this bi-polar argument, the other side is obviously going to be greater than 217K and they will be on the Democratic side of the ledger as a party "going to bat" for them.

Spin? No; just the facts of the matter.

Sorry.

You allow your bitter partisanship to get the better of you.

Sad.

 

[Gadawg73]

Buffet rule is a farce and a joke and anyone that does not see that it is a smokescreen class warfare tactic is a dumb ass.
The Buffet Rule would tax millionaires at a minimum of 30% tax rate.
The Committe of Taxation states that it would bring in an extra 5 billion a year over and above what the millionaires NOW pay as taxes.
So in 250 years of collecting that extra revenue under the Buffet Rule we would come close to covering the Obama deficit of last year.
Amazing how many dumb asses are in America today that have no fucking clue about $$$.
SPENDING is the problem and all this amounts to is a diversion from the Obama administration.
All entitlement spending has skyrocketed under Obama. Social Security disability claims are up 40% from 4 years ago. Tell me folks are getting more disabled these days. 30% of claims filed are for headaches, preliminary arthritis, dope addiction and alcohol abuse. Food stamp usage is at an all time high and Obama is proud of that.
WAKE UP DUMB ASS AMERICANS. The Buffet Rule is a campaign slogan.

 

[The T]

Buffet rule is a farce and a joke and anyone that does not see that it is a smokescreen class warfare tactic is a dumb ass.
The Buffet Rule would tax millionaires at a minimum of 30% tax rate.
The Committe of Taxation states that it would bring in an extra 5 billion a year over and above what the millionaires NOW pay as taxes.
So in 250 years of collecting that extra revenue under the Buffet Rule we would come close to covering the Obama deficit of last year.
Amazing how many dumb asses are in America today that have no fucking clue about $$$.
SPENDING is the problem and all this amounts to is a diversion from the Obama administration.
All entitlement spending has skyrocketed under Obama. Social Security disability claims are up 40% from 4 years ago. Tell me folks are getting more disabled these days. 30% of claims filed are for headaches, preliminary arthritis, dope addiction and alcohol abuse. Food stamp usage is at an all time high and Obama is proud of that.
WAKE UP DUMB ASS AMERICANS. The Buffet Rule is a campaign slogan.

Class Warfare/Wealth envy. It's all he has. His record is in the toilet.

 

[Toro]

For a few years now, Americans have consistently supported higher taxes on the wealthy.

 

[Gadawg73]

For a few years now, Americans have consistently supported higher taxes on the wealthy.

Of course they do. For a few years now more more Americans pay NO income taxes.