Stop Coddling The Super Rich

[Toddsterpatriot]

Because like most very wealthy people, most of their income is through investments, not production. investment income falls under the Capital Gains tax and not Federal income tax. Ergo, they end up paying less federal tax than a guy making $25K/year. That's how they are screwing you and the rest of America.

Buffet pays more federal tax than a guy making $25K/year. A lot more.
Try again?

Why don't YOU "try again" and READ the Buffett article...which EXPLAINS how the inequality of the taxes he pays due to tax cuts, breaks, loopholes that are NOT available to you and me let's him take home the lion's share of his income. And if there's a shortage in revenue, why is it incumbent of folk like you and I to shell out more in taxes and let folk like Buffett maintain ALL his breaks?

Buffett pays 15% on his capital gains, so do I.

Where is the inequality?

 

[kaz]

Because like most very wealthy people, most of their income is through investments, not production. investment income falls under the Capital Gains tax and not Federal income tax. Ergo, they end up paying less federal tax than a guy making $25K/year. That's how they are screwing you and the rest of America.

Funny stuff. You never thought about what they are "investing" in, did you?

Hint, it's directly related to the guy making $25K/year's ability to have a job. Any idea what it is?

{Jeopardy music...}

So we need to cut taxes for the super rich even more so America can have more guys making 25,000 a year?

lol

Yes, because if what you say is true the alternative is more guys taking less they didn't earn. Though you pulled the $25K out of your ass, people with jobs make all sorts of salaries and it also raises the salaries of people who are employed now.

How about the problem that we are BORROWING 40% of what we spend? How about we put the taxes on the Rich back where they were when we didn't borrow 40% of what we're spending?

So you're going to fix it by having more people on welfare in order to increase the taxes of the people who provide jobs and don't even have enough money to tax to balance that. If all liberals would just take a single econ 101 course and pay attention our political landscape would dramatically change as your extreme ignorance would start to melt away. My God, how can someone know as little as you do about economics. I'm not talking about your political views. No matter the politics behind them your statement is just extreme economic ignorance. Your solution makes the problem you're trying to solve exponentially worse.

 

[daveman]

Following the tax laws and paying your cap gains taxes is now "screwing America"?!?!?

Here's something to try and wrap your head around....Maybe, instead of investors being taxed too little, the working class is taxed too damned much!

Naw....Couldn't be that simple!

Leftists don't understand the concept of being taxed too much.

How does that square with the time worn argument that 55% of Americans don't pay any tax?

I've seen people calling for a 100% rate on the wealthy.

 

[daveman]

What were the tax rates under Clinton for the super rich? The top tax rate?

And while the poor pay less, what on earth are you complaining about being over taxed for? Unless you're an eccentric billionaire with nothing better to do than pop off on an internet message board.

Clinton raised the top rate from 31% to 39.6%.

Why am I complaining about being overtaxed?
Because the government takes my hard earned money and wastes a huge part of it, that's why.

I know they waste it! They have been wasting it for years! How much was wasted in Iraq? There, they gave away bundles of cash for what result? They waste it in the Department of Defense. There, any fantasy weapons system, any specialized tool to repair that fantasy can encounter cost over runs that are too massive to imagine. They waste it by giving subsidies to businesses and grant tax breaks to business while those same businesses take their factories out of Pennsylvania and into Singapore.

I think we desperately need a secure social safety net. I think the class warfare aspect of the Tea Party stance is repugnant and wholly counter intuitive.

But your own class warfare stance is good and righteous and holy?

 

[Mustang]

Billionaire Warren Buffett urged U.S. lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments.

"My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times.

I paid was only 17.4 percent of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent," he said.

"I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain," he said

"People invest to make money, and potential taxes have never scared them off."

Stop coddling the super-rich: Buffett - Yahoo! News

.

You must not have gotten the memo. They're not called rich anymore. They're called the "job-creators" (even though they're not creating any jobs).

 

[kaz]

You must not have gotten the memo. They're not called rich anymore. They're called the "job-creators" (even though they're not creating any jobs).

With a Marxist in the White House running a government on a crusade to crush us, the prudent thing is to conserve cash and hope the Tea Party changes the political landscape next year. The greatest thing that Obama could do for job creation would be to hold a press conference and say his re-election plans are the same as LBJ's were.

 

[MikeK]

Clinton raised the top rate from 31% to 39.6%.

Why am I complaining about being overtaxed?
Because the government takes my hard earned money and wastes a huge part of it, that's why.

That is a perfectly valid complaint and I fully agree with it. But you and others who harbor this grievance should focus on the waste, not taxation.

Which examples of government spending do you believe must be ended or modified? My main focus is on the Military Industrial Complex and the Law Enforcement Industrial Complex -- with emphasis on the phony drug "war."

 

[Full-Auto]

Clinton raised the top rate from 31% to 39.6%.

Why am I complaining about being overtaxed?
Because the government takes my hard earned money and wastes a huge part of it, that's why.

That is a perfectly valid complaint and I fully agree with it. But you and others who harbor this grievance should focus on the waste, not taxation.

Which examples of government spending do you believe must be ended or modified? My main focus is on the Military Industrial Complex and the Law Enforcement Industrial Complex -- with emphasis on the phony drug "war."

Which would require us to remind certain segments of the DNC conference call of any cut is EXTREME

 

[Toddsterpatriot]

Clinton raised the top rate from 31% to 39.6%.

Why am I complaining about being overtaxed?
Because the government takes my hard earned money and wastes a huge part of it, that's why.

That is a perfectly valid complaint and I fully agree with it. But you and others who harbor this grievance should focus on the waste, not taxation.

Which examples of government spending do you believe must be ended or modified? My main focus is on the Military Industrial Complex and the Law Enforcement Industrial Complex -- with emphasis on the phony drug "war."

I do focus on the waste.
The waste of Obamacare.
The waste of over regulation in general.
The waste of corn based ethanol for fuel.
The waste of CO2 regulations in particular.
The waste of "green" subsides.
I could go on and on.

 

[American Horse]

I'm going to (as a conservative) depart from the conventional conservative line on this. There are people so rich, Warren Buffet being one, and by rich I mean wealth not earnings, that nothing would be lost in the economy by taxing them at a much higher rate. By a much higher rate I mean the ordinary rate for individuals.

These people create foundations which are supposedly "non-profits" or "not for profits," and further more supposedly they are charities. These are shells for their wealth which allow them to avoid paying taxes on the growth of their wealth, and what taxes they pay are as capital gains or dividends.

After some amount of wealth is accrued– and at present the government/IRS doesn’t look at wealth at all – the growth on that wealth should be taxed at regular rates like apply to anyone else. There should, perhaps, be a $100-million wealth threshold, or if we don’t want the feds looking at wealth (after all wealth is a private issue requiring the filing a financial statement), then when dividends or “gains” to an individual are greater than some threshold amount, all after that amount would be subject to the higher rate.

The foundations mentioned above are almost always liberal institutions, and the money goes to liberal causes, used to grow the liberal establishment. Instead there could be some sort of tax abatement allowed only when the wealth grows from seed money for new inventions, seed money for small business start-ups, or to educational institutions, and others of the sort.

There are many variations on the amounts and thresholds, but we need to encourage the channeling of these earnings into the economy for useful endeavors instead of political and philosophical schemes. That would apply to “Think Tanks” of both the left and the right which foundations give money to.

 

[taichiliberal]

mantras fed to them by the people Buffet points out is screwing them...

How is Buffet's 15% capital gains tax rate screwing me or anyone else?

I was referring to those folks who are wailing to maintain the Bush tax cuts and such....as stated in Buffett's article.

Neocon/teabagger/libertarian parrots and toadies regurgitate the assinine mantras fed to them by the people Buffet points out is screwing them....

This makes no sense. Try again?

Why don't you (a) READ THE ARTICLE BUFFETT WROTE (b) Acknowledge the initial response I gave to your initial question (c) Stop trying to bluff and BS with your lame stall tactics just claiming that anyone who gives you answers that you don't like "make no sense" (d) Get an adult you trust to explain things to you if your reading comprehension is on the fritz before you "try again". (e) be intellectually honest for a change? (f) ALL OF THE ABOVE.

 

[taichiliberal]

Buffet pays more federal tax than a guy making $25K/year. A lot more.
Try again?

Why don't YOU "try again" and READ the Buffett article...which EXPLAINS how the inequality of the taxes he pays due to tax cuts, breaks, loopholes that are NOT available to you and me let's him take home the lion's share of his income. And if there's a shortage in revenue, why is it incumbent of folk like you and I to shell out more in taxes and let folk like Buffett maintain ALL his breaks?

Buffett pays 15% on his capital gains, so do I.

Where is the inequality?

Steelplate already explained that, and I subsequently explained the other half. Evidently Todd, YOU think that just ignoring responses and repeating your intellectual myopia stubbornly is a substitute for a discussion (hint: it's not). Carry on.

 

[Toddsterpatriot]

I was referring to those folks who are wailing to maintain the Bush tax cuts and such....as stated in Buffett's article.

Neocon/teabagger/libertarian parrots and toadies regurgitate the assinine mantras fed to them by the people Buffet points out is screwing them....

This makes no sense. Try again?

Why don't you (a) READ THE ARTICLE BUFFETT WROTE (b) Acknowledge the initial response I gave to your initial question (c) Stop trying to bluff and BS with your lame stall tactics just claiming that anyone who gives you answers that you don't like "make no sense" (d) Get an adult you trust to explain things to you if your reading comprehension is on the fritz before you "try again". (e) be intellectually honest for a change? (f) ALL OF THE ABOVE.

He didn't use the word screw in the article.

Let's try again.

Neocon parrots are regurgitating something? What exactly?

Fed to them by the people? Which people?

The people who are screwing them? Which people are screwing them? How?
By keeping capital gains taxes at 15%?

 

[hellofromwarsaw]

Pub/Rush/Foxbots!!

 

[taichiliberal]

Neocon/teabagger/libertarian parrots and toadies regurgitate the assinine mantras fed to them by the people Buffet points out is screwing them....

This makes no sense. Try again?

Why don't you (a) READ THE ARTICLE BUFFETT WROTE (b) Acknowledge the initial response I gave to your initial question (c) Stop trying to bluff and BS with your lame stall tactics just claiming that anyone who gives you answers that you don't like "make no sense" (d) Get an adult you trust to explain things to you if your reading comprehension is on the fritz before you "try again". (e) be intellectually honest for a change? (f) ALL OF THE ABOVE.

He didn't use the word screw in the article.

Let's try again.

Neocon parrots are regurgitating something? What exactly?

Fed to them by the people? Which people?

The people who are screwing them? Which people are screwing them? How?
By keeping capital gains taxes at 15%?

And as the chronology of the posts shows, folks.....once Todd is faced with facts that don't support his neocon/teabagger mantras and beliefs, he just goes into parrot mode...ignoring the points others makes and just repeating his BS. Todd needs to grow up. But instead, he'll keep playing this failed dodge of his as some sort of "victory"....so much more to pity Todd and his fellow dupes. I'll leave him to it.

 

[hellofromwarsaw]

Really, these tax rates are great if you want a banana republic.

 

[Big Fitz]

Really, these tax rates are great if you want a banana republic.

So how's that taxation paradises of Cuba and Venezuela doing?

 

[Gadawg73]

I'm going to (as a conservative) depart from the conventional conservative line on this. There are people so rich, Warren Buffet being one, and by rich I mean wealth not earnings, that nothing would be lost in the economy by taxing them at a much higher rate. By a much higher rate I mean the ordinary rate for individuals.

These people create foundations which are supposedly "non-profits" or "not for profits," and further more supposedly they are charities. These are shells for their wealth which allow them to avoid paying taxes on the growth of their wealth, and what taxes they pay are as capital gains or dividends.

After some amount of wealth is accrued– and at present the government/IRS doesn’t look at wealth at all – the growth on that wealth should be taxed at regular rates like apply to anyone else. There should, perhaps, be a $100-million wealth threshold, or if we don’t want the feds looking at wealth (after all wealth is a private issue requiring the filing a financial statement), then when dividends or “gains” to an individual are greater than some threshold amount, all after that amount would be subject to the higher rate.

The foundations mentioned above are almost always liberal institutions, and the money goes to liberal causes, used to grow the liberal establishment. Instead there could be some sort of tax abatement allowed only when the wealth grows from seed money for new inventions, seed money for small business start-ups, or to educational institutions, and others of the sort.

There are many variations on the amounts and thresholds, but we need to encourage the channeling of these earnings into the economy for useful endeavors instead of political and philosophical schemes. That would apply to “Think Tanks” of both the left and the right which foundations give money to.

Your premise and last paragraph is correct.
The rest of your post is opinion only. Nothing political in any way qualifies as a tax exempt foundation.

 

[peach174]

Nothing is stopping Warren Buffet from paying more taxes or any of the other super rich who want to do so.
There is a little box on their tax forms that you can check off and pay as much as you would like.

 

[peach174]

I'm going to (as a conservative) depart from the conventional conservative line on this. There are people so rich, Warren Buffet being one, and by rich I mean wealth not earnings, that nothing would be lost in the economy by taxing them at a much higher rate. By a much higher rate I mean the ordinary rate for individuals.

These people create foundations which are supposedly "non-profits" or "not for profits," and further more supposedly they are charities. These are shells for their wealth which allow them to avoid paying taxes on the growth of their wealth, and what taxes they pay are as capital gains or dividends.

After some amount of wealth is accrued– and at present the government/IRS doesn’t look at wealth at all – the growth on that wealth should be taxed at regular rates like apply to anyone else. There should, perhaps, be a $100-million wealth threshold, or if we don’t want the feds looking at wealth (after all wealth is a private issue requiring the filing a financial statement), then when dividends or “gains” to an individual are greater than some threshold amount, all after that amount would be subject to the higher rate.

The foundations mentioned above are almost always liberal institutions, and the money goes to liberal causes, used to grow the liberal establishment. Instead there could be some sort of tax abatement allowed only when the wealth grows from seed money for new inventions, seed money for small business start-ups, or to educational institutions, and others of the sort.

There are many variations on the amounts and thresholds, but we need to encourage the channeling of these earnings into the economy for useful endeavors instead of political and philosophical schemes. That would apply to “Think Tanks” of both the left and the right which foundations give money to.

How about just stopping the money to all lobbyists and stopping all the subsidies?
Reforming our tax code and reforming how we hold our elections?
The fund raising and length of time has become insane.