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Warren Buffett says rich should pay more taxes


By tovarichpeter   Follow   Mon, 26 Nov 2012, 12:34am PST   579 views   9 comments
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http://www.nytimes.com/2012/11/26/opinion/buffett-a-minimum-tax-for-the-wealthy.html?hp&_r=0&gwh=EDBC222439470FC2EEE2773AF11C90BC

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iwog   Mon, 26 Nov 2012, 12:35am PST   Share   Quote   Permalink   Like (2)   Dislike (1)     Comment 1

Warren Buffett is right.

zzyzzx   Mon, 26 Nov 2012, 2:08am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 2

I think Warren Buffet should pay more taxes.

tatupu70   Mon, 26 Nov 2012, 8:31pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 3

zzyzzx says

I think Warren Buffet should pay more taxes.

So does Warren. That's the point.

dodgerfanjohn   Mon, 26 Nov 2012, 10:05pm PST   Share   Quote   Permalink   Like   Dislike     Comment 4

Then cap deductions on income tax@ $25K + raise the captial gains tax to 25 or 28%.

Funny how people want the "rich" taxed but somehow are not on board with this very simple concept.

Otherwise rich people are just going to do what they did in the late 1970's when the marginal tax rate was 70%...they'll find investment loopholes and avoid the high tax.

Buffet is full of shit if he wants us to believe he kept investing away, all the while paying a 70% tax rate on those investments.

upisdown   Mon, 26 Nov 2012, 10:48pm PST   Share   Quote   Permalink   Like   Dislike     Comment 5

Warren Buffett says........................

His money is in a charitable remainder trust, and it doesn't look like he's about to suddenly change his spending patterns or habits. He can say whatever he wants, and claim who knows what, as it won't change much of his personal wealth. His business interests will adjust and/or adapt, and will lobby for some other type of preferential treatment to keep raking it in.

Just because he's stinking rich doesn't mean that we have to listen to EVERY word that he says. Maybe he should just go back on CNBC and answer some more stupid questions, like where he gets his hair cut and how much it costs, if he wants to inflate his ego some more.

tatupu70   Mon, 26 Nov 2012, 11:12pm PST   Share   Quote   Permalink   Like   Dislike     Comment 6

upisdown says

Just because he's stinking rich doesn't mean that we have to listen to EVERY word that he says

Nope, of course not. But, in this case, he's right. So we should listen.

upisdown   Mon, 26 Nov 2012, 11:20pm PST   Share   Quote   Permalink   Like   Dislike     Comment 7

Would Buffett still feel the same way about other things that might squeeze his nads a little and that should also be done? How about the cap on Social Security on income?tatupu70 says

Nope, of course not. But, in this case, he's right. So we should listen.

We already know what amounts and where tax money has to come from, and Buffett saying it doesn't make it right, or MORE right.

tatupu70   Mon, 26 Nov 2012, 11:52pm PST   Share   Quote   Permalink   Like   Dislike     Comment 8

upisdown says

We already know what amounts and where tax money has to come from, and Buffett saying it doesn't make it right, or MORE right.

Again, Buffet saying it doesn't make it right. Buffet says it BECAUSE it is right.

TechGromit   Mon, 26 Nov 2012, 11:56pm PST   Share   Quote   Permalink   Like   Dislike     Comment 9

Unfortunately raising the tax on the rich isn't going to be enough to balance the budget. It will certainly help, but it's not a cure all. I don't think a 30% tax rate on investment income over 1 million dollars is going to be too much of a hardship for anyone.

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