The Buffett Rule

[Avatar4321]

Calling it the Fair Rule is a lie.

They are paying their fair share now. By definition, their fair share is the amount set by law that they need to pay. If they didnt pay that, they would be in jail.

How about we just lower taxes to a flat tax below 10%? That way everyone pays their fair share and none is over taxed.

Very few corporations pay much in taxes, and wages, which are taxed at a higher rate, come from the same net income as capital gain.

So if wages and capital gain have already been taxed, IT IS STILL UNFAIR FOR THE IDLE RICH TO BE TAXED AT A LOWER RATE THAN PEOPLE WHO WORK.

They aren't. Continually lying about it isn't going to somehow make it true.

And if that was the problem, the logical solution would be to cut the taxes of the people who work not rise the taxes of the so called rich.

 

[Chris]

Calling it the Fair Rule is a lie.

They are paying their fair share now. By definition, their fair share is the amount set by law that they need to pay. If they didnt pay that, they would be in jail.

How about we just lower taxes to a flat tax below 10%? That way everyone pays their fair share and none is over taxed.

Very few corporations pay much in taxes, and wages, which are taxed at a higher rate, come from the same net income as capital gain.

So if wages and capital gain have already been taxed, IT IS STILL UNFAIR FOR THE IDLE RICH TO BE TAXED AT A LOWER RATE THAN PEOPLE WHO WORK.

They aren't. Continually lying about it isn't going to somehow make it true.

And if that was the problem, the logical solution would be to cut the taxes of the people who work not rise the taxes of the so called rich.

Wages, which are taxed at a higher rate, come from the same net income as capital gain.

So if wages and capital gain have already been taxed, IT IS STILL UNFAIR FOR THE IDLE RICH TO BE TAXED AT A LOWER RATE THAN PEOPLE WHO WORK.

 

[The Rabbi]

The problem with doubling the capital gains tax rate from 15% up to 30% is twofold:

Firstly, the "capital" has already been taxed once- making the actual rate of taxation around 40%. That does not entice anyone to invest, well, at least not here. The wealthy will invest offshore.

Secondly, the income derived from the higher rate will be minimal at first and over the long run, the treasury will actually take in less. This is because capital gains are optional in many cases. I can choose to hold on to appreciated assets rather than sell them - tax rate = ZERO. Then when I die, my heirs will inherit these assets on a stepped up basis- tax rate= ZERO.

"Eat the rich" is the new "hope and change".

Very few corporations pay much in taxes, and wages, which are taxed at a higher rate, come from the same net income as capital gain.

So if wages and capital gain have already been taxed, IT IS STILL UNFAIR FOR THE IDLE RICH TO BE TAXED AT A LOWER RATE THAN PEOPLE WHO WORK.

I dont know anyone who is "idle rich." There is no such thing outside of F.Scott Fitzgerald novels and Democratic talking points.
It is unfair to tax people who put their capital at risk more than people who dont put their capital at risk. We need to raise rates on working people, half of whom pay no taxes at all.

 

[JoeB131]

Senate Democrats To Push 'Buffett Rule' Bill This Week

aka, The Fair Share Rule.

Brace yourselves. All you 1% here are gonna hate this.

It would require people who make more than $1 million to pay a 30 percent effective tax rate. Tax loopholes now allow some of the wealthiest Americans to pay lower tax rates than people in the middle class.

Don't worry. The pubs will filibuster it because, as we all know, they are owned by the 1%.

There aren't any of the 1% here. Just people who wish they were part of the 1%.

But, no, this won't go anywhere because the 1% own both parties. The 1% know that this is just Obama needling Romney.

 

[JoeB131]

The problem with doubling the capital gains tax rate from 15% up to 30% is twofold:

Firstly, the "capital" has already been taxed once- making the actual rate of taxation around 40%. That does not entice anyone to invest, well, at least not here. The wealthy will invest offshore.

Secondly, the income derived from the higher rate will be minimal at first and over the long run, the treasury will actually take in less. This is because capital gains are optional in many cases. I can choose to hold on to appreciated assets rather than sell them - tax rate = ZERO. Then when I die, my heirs will inherit these assets on a stepped up basis- tax rate= ZERO.

"Eat the rich" is the new "hope and change".

You know, I imagine 1780 French Nobles engaging in this sort of thinking...

And we all so how well that turned out for them...

 

[Two Thumbs]

I love this 1%er stuff. It lets me know who the most jealous and stoopud are.

go ahead and get more out of people that already pay, and leave people like me, who will get more back than they paid in alone.

I'll be damned if I ever pay my fair share.

 

[Two Thumbs]

The problem with doubling the capital gains tax rate from 15% up to 30% is twofold:

Firstly, the "capital" has already been taxed once- making the actual rate of taxation around 40%. That does not entice anyone to invest, well, at least not here. The wealthy will invest offshore.

Secondly, the income derived from the higher rate will be minimal at first and over the long run, the treasury will actually take in less. This is because capital gains are optional in many cases. I can choose to hold on to appreciated assets rather than sell them - tax rate = ZERO. Then when I die, my heirs will inherit these assets on a stepped up basis- tax rate= ZERO.

"Eat the rich" is the new "hope and change".

You know, I imagine 1780 French Nobles engaging in this sort of thinking...

And we all so how well that turned out for them...

That's idiotic. Our situations are not the same. Except that France over extended their economy.

Unless you mean we should revolt against the government..

 

[imbalance]

The problem with doubling the capital gains tax rate from 15% up to 30% is twofold:

Firstly, the "capital" has already been taxed once- making the actual rate of taxation around 40%. That does not entice anyone to invest, well, at least not here. The wealthy will invest offshore.

Secondly, the income derived from the higher rate will be minimal at first and over the long run, the treasury will actually take in less. This is because capital gains are optional in many cases. I can choose to hold on to appreciated assets rather than sell them - tax rate = ZERO. Then when I die, my heirs will inherit these assets on a stepped up basis- tax rate= ZERO.

"Eat the rich" is the new "hope and change".

The concept of taxing capital gains at any rate is ridiculous. It's a tax on cash flows that have already been taxed at two different points in time before they became capital gains.

 

[Full-Auto]

Senate Democrats To Push 'Buffett Rule' Bill This Week

aka, The Fair Share Rule.

Brace yourselves. All you 1% here are gonna hate this.

It would require people who make more than $1 million to pay a 30 percent effective tax rate. Tax loopholes now allow some of the wealthiest Americans to pay lower tax rates than people in the middle class.

Don't worry. The pubs will filibuster it because, as we all know, they are owned by the 1%.

Will any democrats have the stones to put the call out for that guy to pay the taxes he owes?

Chances are better at being hit by lighting on a clear day.

 

[bigrebnc1775]

Senate Democrats To Push 'Buffett Rule' Bill This Week

aka, The Fair Share Rule.

Brace yourselves. All you 1% here are gonna hate this.

It would require people who make more than $1 million to pay a 30 percent effective tax rate. Tax loopholes now allow some of the wealthiest Americans to pay lower tax rates than people in the middle class.

Don't worry. The pubs will filibuster it because, as we all know, they are owned by the 1%.

Will any democrats have the stones to put the call out for that guy to pay the taxes he owes?

Chances are better at being hit by lighting on a clear day.

I hear Buffett funnels his money through the gates foundation and makes a profit off what he gives.

 

[editec]

The argument that capital gains have already been taxed is specious.

The exact same silly argument can be made about every dollar paid to a worker, too.

Money is not taxed.

Monetary TRANSACTIONS are.

 

[Zander]

Very few corporations pay much in taxes, and wages, which are taxed at a higher rate, come from the same net income as capital gain.

So if wages and capital gain have already been taxed, IT IS STILL UNFAIR FOR THE IDLE RICH TO BE TAXED AT A LOWER RATE THAN PEOPLE WHO WORK.

They aren't. Continually lying about it isn't going to somehow make it true.

And if that was the problem, the logical solution would be to cut the taxes of the people who work not rise the taxes of the so called rich.

Wages, which are taxed at a higher rate, come from the same net income as capital gain.

So if wages and capital gain have already been taxed, IT IS STILL UNFAIR FOR THE IDLE RICH TO BE TAXED AT A LOWER RATE THAN PEOPLE WHO WORK.

Repeating the same mantra over and over does not improve the efficacy of your argument, but it does make you look less intelligent.

 

[imbalance]

The argument that capital gains have already been taxed is specious.

The exact same silly argument can be made about every dollar paid to a worker, too.

Money is not taxed.

Monetary TRANSACTIONS are.

You cannot compare the risk of return on investment to the risk of somehow not getting paid a wage or salary in return for working a job.

 

[merrill]

Yes have the wealthy pay the same as the middle class and wipe out all preferential tax dollar loopholes.

All off shore holdings subject to taxation = bring it on STAT!

 

[California Girl]

The problem with doubling the capital gains tax rate from 15% up to 30% is twofold:

Firstly, the "capital" has already been taxed once- making the actual rate of taxation around 40%. That does not entice anyone to invest, well, at least not here. The wealthy will invest offshore.

Secondly, the income derived from the higher rate will be minimal at first and over the long run, the treasury will actually take in less. This is because capital gains are optional in many cases. I can choose to hold on to appreciated assets rather than sell them - tax rate = ZERO. Then when I die, my heirs will inherit these assets on a stepped up basis- tax rate= ZERO.

"Eat the rich" is the new "hope and change".

Yep.

 

[California Girl]

Yes have the wealthy pay the same as the middle class and wipe out all preferential tax dollar loopholes.

All off shore holdings subject to taxation = bring it on STAT!

And when they physically leave the country, taking their wealth with them? Who will make up the shortfall? Who will be next in line for your rabid hatred?

 

[merrill]

Yes have the wealthy pay the same as the middle class and wipe out all preferential tax dollar loopholes.

All off shore holdings subject to taxation = bring it on STAT!

And when they physically leave the country, taking their wealth with them? Who will make up the shortfall? Who will be next in line for your rabid hatred?

Making up the shortfall? We're doing it now so what would be different?

Not all wealthy people will leave the good ole USA... get real. Some are very good people with ethical backgrounds and compassionate hearts. After all I know a few...

Those who will not pay their fair and want to move on to China or Irag or Libya or the mountains of Afghanistan I say don't let the doors hit them in the ass.

 

[California Girl]

Yes have the wealthy pay the same as the middle class and wipe out all preferential tax dollar loopholes.

All off shore holdings subject to taxation = bring it on STAT!

And when they physically leave the country, taking their wealth with them? Who will make up the shortfall? Who will be next in line for your rabid hatred?

Not all wealthy people will leave the good ole USA... get real. Some are very good people with ethical backgrounds and compassionate hearts. After all I know a few...

Those who will not pay their fair and want to move on to China or Irag or Libya or the mountains of Afghanistan I say don't let the doors hit them in the ass.

They'll move to Europe. The UK will welcome them with open arms. And, vast numbers will leave... all they need to is shift their primary residence overseas - like lots of those caring wealthy people do. If you think that's gonna help fix this, you are - again - deluded.

But math is not your strongest subject... as we have already seen.

 

[LoneLaugher]

Did you just say that American wealthy people will move to Europe in order to pay fewer taxes?

 

[California Girl]

Did you just say that American wealthy people will move to Europe in order to pay fewer taxes?

If the truly moronic have their way, they will. It'll work out cheaper to live in the UK, and keep their money in offshore accounts than to stay in the US... since the drooling fools are actually suggesting that O/S accounts shouldn't be a tax efficiency.

Seriously, it works out vastly cheaper to live in the UK - where the left aren't so completely delusional as to go after O/S accounts. Naturally, the knock on effect will be that America will also lose a lot of jobs... but, apparently, the left don't need no stinkin' jobs.