I think it is worthy of mention that, with respect to your analysis of Buffet’s tax bill versus his secretary, those payroll taxes she pays are actually being siphoned off to pay for the war, with IOUs being written to the SSA. In other words, she and the rest of the middle class are paying the war bills, and the wealthy class have been let off the hook. This is why the Bush tax cuts on the wealthy need to be reversed. Not only is it a question of tax fairness to the middle class, but it is also a question of preserving the health of Social Security. Whether she is actually able to receive the benefit of her “investment” in the SSA will depend on how long she lives, how long she continues to work, and how many years it takes to restore tax fairness to the middle class.

1)To look at the total tax paid.

2)All the tax shelters and tax-exempt money the rich have.

3)The % of the total tax paid by the top 10%!

The Libs will NEVER say what percentage tax should the rich pay? Or, how much of the total income tax should the rich pay? Or, how much they should have to pay themselves! (They won’t admit to wanting to pay nuthin!)

Warren Buffett is an extremely wealthy man, who has made his money off the very evil corporations run by evil CEO’s the liberals are gunning for. He has been and is invested in corporations which individually hold less than ideal positions in a perfect world. Supporting children slave workers overseas, dirty oil, gas, and nasty coal companies, is all part of a well balanced portfolio. And now, feeling guilty and very comfortable in his happy golden years, he wants to be remembered as being a good man. Of course, he really doesn’t part with much in the way of his pocketbook by doing so. He has amassed billions off the “slave labor of the working poor”.

But hey! Everyone needs a hero. And liberals need a leader. Who better to lead them than millionaires and billionaires?

Me I’m going to bed.

The rich, like the Kerry’s, tie up much of their money in tax-free municipal bonds.

Kerry’s earn something like $100 million/year on her inheritance stash of $1 billion. Much of it tax free.

Then when Spock cries out for Capn, it would bring back great Star Trek memories.

CapiN! I’m deja vuing my pants!
=======================================

(chortles)

If ya see this?

I told you so.

It’s possible, but it would require a hilarious amount of hassle to pull it off–particularly in real time. You’ll excuse me if I don’t post the details! :)

The joke would be on them.

Warren Buffett’s Tax Math Fuzzy at Best
by Todd Sullivan
CNBC has an interview today in which Buffett describes the taxes on his office. He pays 17.5% tax “on average” on his income and that the rest of his office pays 32%. This is the “unfairness” in the tax system he alludes to.

Here is the flaw, the higher taxes those people pay? It is social security taxes, a “tax” for a program those people will need far more than Buffett ever will. After $85,000 in income you no longer need to pay the 7% tax on your income. Buffett takes a $100,000 income from Berkshire plus the thousands he makes from board seats and dividends in stocks he owns privately. It also does not take into account any tax free income Buffett may receive from Federal or Municipal bonds he owns which would dramatically lower his “percentage”.

Now, Buffett has said 90% of his net worth is in Berkshire stock which means he has some $5 billion in other investments which could generate $10 million in income taxable at 15% if invested in dividend paying stocks that have an average 2% yield.

I do not know what the secretary in the office makes but lets say she is paid a fortune in Omaha, $85,000. Her “average” tax will average the 32%. Now Warren, will pay the same percentage of his first $85,000 and then pay only 25% on the next $15,000 since no SS tax is paid. Now, if we add the dividend stocks scenario, we lower his “average” tax rate to 15.5%.

I have no idea what Warren has the $5 billion invested in but the exercise is meant to show not that the “income” tax rates are “unfair” or tilted to the rich (although they all should be lowered) but that Warren’s wealth allows him to invest vast sums in investments that lower his “average” rate easily. It is important to note that these investments are perfectly legal and available to all people and everyone can lower their average rate by using them.

The bottom line is that the only way for Warren’s argument to have any real legitimacy is for him to detail his income sources. Without the details, the whole argument has no merit.

Another note: The last time congress tried to “sock it to” the fat cats, we got the AMT which is systematically now killing the middle class.. be careful what you wish for…

Just lower all the rates and we all win…”

Gurufocus.com

I’ll bid $4.99 for “J R”

Sound about right Regular?

Or 2 for $1750. (For the double nics out there)

Or 3 for $2000. (For the tripple nics out there)

I don’t need “Max” back though. I’ll live with the full name.

James?

I can smell him in any nic. As I have shown this evening.
————————————–

Points and laughs at the paranoid.

It does not hurt me. I only ever posted under one nic.

I just do not like that it makes it difficult for new posters and readers.

James?

I can smell him in any nic. As I have shown this evening.

Your correct Am_way,
Perfect examples of these people are Bill Gates Warren Buffet George Clooney Steven Speilberg George Lucas on and on.They are constantly calling the Moose house and trying to shake down the herd.

P.S. The registration system applies to probably most Wordpress blogs. I was very surprised that “Rage” was available.

“Max” is about as generic as it gets.