Originally Posted By andyll Some quotes: "But what I paid was only 17.4% of my taxable income - and that's actually a lower percentage than was paid by any of the other 20 people in our office." "While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks," <a href="http://money.cnn.com/2011/08/15/news/economy/buffett_tax_jobs/index.htm?iid=HP_LN" target="_blank">http://money.cnn.com/2011/08/1...id=HP_LN</a>
Originally Posted By Dabob2 Some more quotes (specifically on job creation): "Billionaire investor Warren Buffett, saying he doesn't want to be "coddled" by Congress, says that wealthier Americans should pay higher taxes, and that higher taxes do not dampen job growth." "He said that 40 million jobs were created between 1980 and 2000, when the tax rate for the rich was higher than it is now. "You know what's happened since then: lower tax rates and far lower job creation," he wrote." "My friends and I have been coddled long enough by a billionaire-friendly Congress," he wrote. "It's time for our government to get serious about shared sacrifice."
Originally Posted By DyGDisney Good for him! Wow, only 17.4%! Unbelievable. Here's hoping the next election brings a democrat for president, and a democrat majority in congress. Let's get things back on track!
Originally Posted By Jim in Merced CA Wait! You mean Buffet's not a rich guy who subscribes to theory of 'trickle down economics'?
Originally Posted By ecdc >>Is there anything to prevent him from paying more now?<< Yes. If he sends more, the IRS will send it back as a refund and call it an error. You can't "donate" to the government through your taxes. But of course, it's also not just about Buffett.
Originally Posted By fkurucz >>Is there anything to prevent him from paying more now?<< Oh yes, the old "you can donate your own money if you think taxes are too low" line. The problem with that little nugget is that all millionaires are undertaxed, not just Warren Buffet, which is one reason why we have horrid budget deficits. The Congressional Budget Office has stated that if we ended the wars and let the Bush tax cuts exprire that the deficit would be taken care of.
Originally Posted By lazyboy97o >>Is there anything to prevent him from paying more now?<< >>Yes. If he sends more, the IRS will send it back as a refund and call it an error. You can't "donate" to the government through your taxes.<< There are other means aside from annual income tax filings. <a href="http://www.pay.gov" target="_blank">http://www.pay.gov</a> It is mostly for paying fees, but the Treasury does accept donations towards paying off the debt. >>The problem with that little nugget is that all millionaires are undertaxed, not just Warren Buffet, which is one reason why we have horrid budget deficits.<< Buffett has the resources to continue to shelter his income. Saying stuff like this just makes him look good without him actually having to do much of anything.
Originally Posted By ecdc Ad hominem fallacy. The issue isn't about "the man" Warren Buffett. So simply accusing him of trying to "look good" isn't a response to what he's actually said about higher taxes for the wealthy.
Originally Posted By ecdc Politifact has a great analysis of why Warren Buffett is accurate. <a href="http://www.politifact.com/truth-o-meter/statements/2011/aug/18/warren-buffett/warren-buffett-says-super-rich-pay-lower-taxes-oth/" target="_blank">http://www.politifact.com/trut...xes-oth/</a>
