The Warren Buffett's Secretary Issue

[boedicca]

Why is it, that when pointing out that Warren Buffett's (legendary, and ostensibly long suffering & exploited) Secretary pays a higher tax rate than does Warren, none of the Big Government types ever come to the conclusion that her tax rate is Too High?

 

[Quantum Windbag]

Because taxes are never too high, they are always too low.

 

[Ravi]

It is too high. And his is too low.

Everyone should pay the same percentage in income tax.

 

[boedicca]

Partial thanks to Ravi. I agree that hers is too high.

Buffett's is only too low in the sense that Berkshire Hathaway is $1B in arrears on paying its taxes, which makes Buffett an enormous hypocrite, but not undertaxed. With a marginal corporate tax rate of 35% (federal), he would already have been taxed once on the return on his capital (if BH had paid the taxes). His cap gains and/or dividend taxes are the second time the same money is taxed.

 

[Maple]

It is too high. And his is too low.

Everyone should pay the same percentage in income tax.

What Buffett is not telling you is that he has already paid income taxes on his income, he now lives off of the dividends and capitol gains and they are taxed at a lower rate because he has already paid taxes on the money that he has invested. Of course, he is 88, and might have forgotten that he has already paid taxes on that, but then there is this.

Warren 'Raise My Taxes' Buffett's Company May Owe IRS $1 Billion | NewsBusters.org

 

[Ravi]

It is too high. And his is too low.

Everyone should pay the same percentage in income tax.

What Buffett is not telling you is that he has already paid income taxes on his income, he now lives off of the dividends and capitol gains and they are taxed at a lower rate because he has already paid taxes on the money that he has invested. Of course, he is 88, and might have forgotten that he has already paid taxes on that, but then there is this.

Warren 'Raise My Taxes' Buffett's Company May Owe IRS $1 Billion | NewsBusters.org

Not getting your point....

 

[del]

Partial thanks to Ravi. I agree that hers is too high.

Buffett's is only too low in the sense that Berkshire Hathaway is $1B in arrears on paying its taxes, which makes Buffett an enormous hypocrite, but not undertaxed. With a marginal corporate tax rate of 35% (federal), he would already have been taxed once on the return on his capital (if BH had paid the taxes). His cap gains and/or dividend taxes are the second time the same money is taxed.

so only hypocrites dispute their tax bills?

good to know

 

[del]

It is too high. And his is too low.

Everyone should pay the same percentage in income tax.

What Buffett is not telling you is that he has already paid income taxes on his income, he now lives off of the dividends and capitol gains and they are taxed at a lower rate because he has already paid taxes on the money that he has invested. Of course, he is 88, and might have forgotten that he has already paid taxes on that, but then there is this.

Warren 'Raise My Taxes' Buffett's Company May Owe IRS $1 Billion | NewsBusters.org

Not getting your point....

nothing there to get.

 

[boedicca]

Only to people who cannot connect the dots.

Warren Buffet pays himself only $100,000 in salary. His secretary makes $60,000. Not that big of a difference. If his secretary is married, it's likely she and her husband have a combined regular income that is higher than what Buffett pays himself. He shields the rest of his wealth in non-realized cap gains and charitable tax-exempt trusts. His company is $1B in arrears in taxes while he lobbies for Other People to pay more.

That is hypocrisy. The Treasury already has a program to accept donations to retire the debt. If he really believed he should pay more, he could quite easily donate to this program without pushing for a change in the tax rates for others.

 

[edthecynic]

It is too high. And his is too low.

Everyone should pay the same percentage in income tax.

What Buffett is not telling you is that he has already paid income taxes on his income, he now lives off of the dividends and capitol gains and they are taxed at a lower rate because he has already paid taxes on the money that he has invested. Of course, he is 88, and might have forgotten that he has already paid taxes on that, but then there is this.

Warren 'Raise My Taxes' Buffett's Company May Owe IRS $1 Billion | NewsBusters.org

Partial thanks to Ravi. I agree that hers is too high.

Buffett's is only too low in the sense that Berkshire Hathaway is $1B in arrears on paying its taxes, which makes Buffett an enormous hypocrite, but not undertaxed. With a marginal corporate tax rate of 35% (federal), he would already have been taxed once on the return on his capital (if BH had paid the taxes). His cap gains and/or dividend taxes are the second time the same money is taxed.

The DittoTards are in full parrot mode!

As anyone who has stock knows, you don't pay cap gains taxes on the money you use to purchase the stock with. You only pay cap gains taxes on the increase over your purchase price for the stock. That increase has never been taxed before, and grows and grows tax free, like an unlimited IRA with no penalties, until it is "realized" by selling it.

This is the thing, CON$ervative know-it-all parrots are the stupidest people on Earth.

September 19, 2011
RUSH: The whole argument for the Buffett Rule is Buffett himself says it's not fair that he's paying a lower tax rate on his capital gains and dividend income than his secretary pays on her earned income. It just isn't fair. The only problem is that is completely untrue. It's a great sounding argument, comes together as a nice sound bite, but it is untrue. Buffett is paying a tax in his dividend and capital gains on money that's already been taxed once before as income. So you have to add that first tax rate to the second lower rate on capital or dividends to find out what somebody's actually paying on it.

RUSH: The "unfairness" is the rate the secretary pays! You're comparing income versus capital gains and dividend rates. Now, when Buffett invests money in a stock and the stock shows a profit and he declares it, he'll pay 15% as a capital gains rate. But what money is he investing? He's investing after-tax dollars he's already paid his secretary's tax rate on. It's not that Warren Buffett somehow (or every rich person) has a stash of money that somehow they get to play with that's only taxed at 15%, and that the secretary and other people making $50,000 a year don't have that stash of money and don't have that loophole. There's no "loophole" here! There's no "loophole" that says Warren Buffett only has to pay 15% and his secretary has to pay whatever her rate is.

I don't even know. Thre's no loophole there. There's just a rate of taxation on capital gains income, investments -- you take a risk -- verses earned income, salary and wages and what have you; independent contractor income. My point is that the money Warren Buffett uses to buy stock or invest in companies is already after-tax dollars. It's already money he's made that he has already paid his income tax rate on. This is a flat-out lie, folks. It's a flat-out, total, purposeful misrepresentation.

 

[edthecynic]

A bump for the parrots.

 

[edthecynic]

The fat-assed moron is still telling his DittoTard parrots the same bullshit!

September 20, 2011
RUSH: There was an explanation of the difference between capital gains income and earned income and the tax rates on both, and the fact that capital gains income has already been taxed once before as income.

 

[Oddball]

So, because Rush mentions the same set of facts, that makes them not credible in some way?

 

[Oddball]

Partial thanks to Ravi. I agree that hers is too high.

Buffett's is only too low in the sense that Berkshire Hathaway is $1B in arrears on paying its taxes, which makes Buffett an enormous hypocrite, but not undertaxed. With a marginal corporate tax rate of 35% (federal), he would already have been taxed once on the return on his capital (if BH had paid the taxes). His cap gains and/or dividend taxes are the second time the same money is taxed.

so only hypocrites dispute their tax bills?

good to know

What's to dispute?...He already claims that he doesn't pay enough, so kicking in some more should give him some street cred.



I guess he values his tax attorneys and accountants more so than he does his country!

 

[Charles_Main]

Why is it, that when pointing out that Warren Buffett's (legendary, and ostensibly long suffering & exploited) Secretary pays a higher tax rate than does Warren, none of the Big Government types ever come to the conclusion that her tax rate is Too High?

Good question.

I guess they don't think of it, because they are to busy misleading the American People.

Mr Buffet chooses to receive his Compensation in the form of Stock Options. So he pays only Capital Gains taxes on it. He could if he so chose instead give himself a salary which one would assume would be higher than his Secretaries and subject to a higher Tax Bracket.

On the Flip side, If his Secretary has any Stocks wrapped up in her Retirement plan, She pays the same Capital Gains Rate as Buffet.

So Basically what Obama is saying, with out saying it. Is he wants to raise the Capital Gains tax to a rate equal to the Top Income Bracket. At least when it comes to people who make over 200k a year.

He wont say that aloud because he knows the Moment he said it, the stock market would begin a couple thousand point slide, and People, Real Middle class people, would be hurt by it. Right along with the rich.

This is nothing but a ploy. A campaign Tool. A shameless attempt to mislead the People and frame the Election as Obama against the Party of NO. I just hope Americans are paying attention and understand the Level of dishonesty, and ultra Partisan hackery coming from Obama.

 

[Charles_Main]

Partial thanks to Ravi. I agree that hers is too high.

Buffett's is only too low in the sense that Berkshire Hathaway is $1B in arrears on paying its taxes, which makes Buffett an enormous hypocrite, but not undertaxed. With a marginal corporate tax rate of 35% (federal), he would already have been taxed once on the return on his capital (if BH had paid the taxes). His cap gains and/or dividend taxes are the second time the same money is taxed.

so only hypocrites dispute their tax bills?

good to know

What's to dispute?...He already claims that he doesn't pay enough, so kicking in some more should give him some street cred.



I guess he values his tax attorneys and accountants more so than he does his country!

In Mr Buffets defense, The Back taxes "he" Owes are actually cooperate Taxes his Company owes. It is his Job as Leader of said Company, to fight to pay as little as legally possible.

What Mr Buffet is doing, is allowing the President to Mislead the Nation based on him as an example. when he himself has chosen to receive his compensation in stock options and not salary. So therefore he has chosen to pay the lower Capital Gains Tax Rate on all his income, Instead of taking a salary that would indeed be taxed at the top rate.

 

[edthecynic]

So, because Rush mentions the same set of facts, that makes them not credible in some way?

It's not credible because it is NOT true!!!!

Cap gains is taxed ONLY once. No matter how many times your MessiahRushie says it's taxed twice, once as earned income and a second time as cap gains, it will always be pure BULLSHIT!

September 19, 2011
RUSH: The whole argument for the Buffett Rule is Buffett himself says it's not fair that he's paying a lower tax rate on his capital gains and dividend income than his secretary pays on her earned income. It just isn't fair. The only problem is that is completely untrue. It's a great sounding argument, comes together as a nice sound bite, but it is untrue. Buffett is paying a tax in his dividend and capital gains on money that's already been taxed once before as income. So you have to add that first tax rate to the second lower rate on capital or dividends to find out what somebody's actually paying on it.

 

[del]

Partial thanks to Ravi. I agree that hers is too high.

Buffett's is only too low in the sense that Berkshire Hathaway is $1B in arrears on paying its taxes, which makes Buffett an enormous hypocrite, but not undertaxed. With a marginal corporate tax rate of 35% (federal), he would already have been taxed once on the return on his capital (if BH had paid the taxes). His cap gains and/or dividend taxes are the second time the same money is taxed.

so only hypocrites dispute their tax bills?

good to know

What's to dispute?...He already claims that he doesn't pay enough, so kicking in some more should give him some street cred.



I guess he values his tax attorneys and accountants more so than he does his country!

who doesn't?

 

[Oddball]

so only hypocrites dispute their tax bills?

good to know

What's to dispute?...He already claims that he doesn't pay enough, so kicking in some more should give him some street cred.



I guess he values his tax attorneys and accountants more so than he does his country!

In Mr Buffets defense, The Back taxes "he" Owes are actually cooperate Taxes his Company owes. It is his Job as Leader of said Company, to fight to pay as little as legally possible.

What Mr Buffet is doing, is allowing the President to Mislead the Nation based on him as an example. when he himself has chosen to receive his compensation in stock options and not salary. So therefore he has chosen to pay the lower Capital Gains Tax Rate on all his income, Instead of taking a salary that would indeed be taxed at the top rate.

Right...He's comparing the apples of the taxes he pays to the oranges of those his secretary has expropriated from her....So he's being unfair and deceptive from the get-go.

Then, when he could "easily afford" to have his company pay more than they truly owe (just to show he's all for "fairness" dontchaknow), he chooses instead to pay tax attorneys and lawyers, rather than walk the walk he talks so well.

To hell with that asshole.

 

[Wicked Jester]

Why is it, that when pointing out that Warren Buffett's (legendary, and ostensibly long suffering & exploited) Secretary pays a higher tax rate than does Warren, none of the Big Government types ever come to the conclusion that her tax rate is Too High?

Good question.

I guess they don't think of it, because they are to busy misleading the American People.

Mr Buffet chooses to receive his Compensation in the form of Stock Options. So he pays only Capital Gains taxes on it. He could if he so chose instead give himself a salary which one would assume would be higher than his Secretaries and subject to a higher Tax Bracket.

On the Flip side, If his Secretary has any Stocks wrapped up in her Retirement plan, She pays the same Capital Gains Rate as Buffet.

So Basically what Obama is saying, with out saying it. Is he wants to raise the Capital Gains tax to a rate equal to the Top Income Bracket. At least when it comes to people who make over 200k a year.

He wont say that aloud because he knows the Moment he said it, the stock market would begin a couple thousand point slide, and People, Real Middle class people, would be hurt by it. Right along with the rich.

This is nothing but a ploy. A campaign Tool. A shameless attempt to mislead the People and frame the Election as Obama against the Party of NO. I just hope Americans are paying attention and understand the Level of dishonesty, and ultra Partisan hackery coming from Obama.

It's an out right LIE perpetrated by Obama and Buffet, and only the fools are buying it.