Quote Originally Posted by Ice View Post
http://www.reuters.com/article/2011/...77E1QI20110815



Going to agree with the Buffet on this one over Romney.
It must hurt to spell part of your title wrong...

Anyway this article is full of huge holes. Obama wants to raise taxes for a certain percentage of Americans when they say, "the super rich"

These numbers always give me some insight into what these super rich are,

Top 1%: $380,354

Top 5%: $159,619

Top 10%: $113,799

Top 25%: $67,280

Top 50%: >$33,048
Average income of these groups. Obama's tax increases seem to target thses super rich factions starting with either the mighty 10 or 5%. You can call someone who makes 150k a year rich but I most certainly do not. I call them hovering between upper middle class and middle class depending on where they reside.

Finally I would like to address this,

In a column headlined "Stop Coddling the Super-Rich," Buffett wrote in The New York Times on Monday that he paid $6,938,744 in income tax last year, only 17.4 percent of his taxable income.

"That's actually a lower percentage than was paid by any of the other 20 people in our office," Buffett wrote. "Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent."
Half the country (about 47-51% of the nation pay no federal income tax whatsoever) so these people that buffet is speaking to are already of good stature in the US.

Now lets address the glaring inaccuracies which Buffet is bringing up. His characterization of payroll taxes is absurd. Those taxes are capped for the very reason of avoiding a huge retirement payout to the wealthy later on. So obviously he does not have as high a burden. Every capped tax in the Us meant to protect the payout service later on is obviously going to have a higher burden on the less wealthy. And Romney's comment regarding corporate taxes, let alone where Buffet made the majority of his money last fiscal year is highly relevant and conveniently avoided by buffet in his op-ed.


Buffets constant griping about taxes are all self serving. If he really wants to give more money to the federal government he should just donate it, which is totally legal and doesn't garner him any benefits.

So if you want to tax the mega rich at higher rates okay maybe i could tolerate that but make sure its the actual mega rich....... someone making 380k a year doesn't even sound mega rich to me. This fictional hyper rich 5% they want to tax the hell out of is just the upper middle class.