Quote:
Originally Posted by GregWeld
I'll chime in here with real life taxes
I pay 15% income tax on my dividends (qualified dividends)
I pay ZERO on my tax free muni bonds
Without saying what I earn --- it is SUBSTANTIAL.... but my actual tax rate is quite low in percentage terms == especially when you figure some at zero. MY total tax bill will be far higher than most of you in dollar terms. I still only get one vote and drive on the same roads.
Now ---- I have that income because the MONEY that makes that money was already taxed at ordinary income taxes -- so the money that's left is ALL MINE.... now I just pay taxes on what it earns. Same as that simpleton Warren
Buffet (I hate people that want to speak for me -- but are far richer -- and that old fart ought to just shut the hell up and write a big fat check to the IRS if he wants to pay more). 
BTW --- I'd LOVE to see a flat tax -- corporate and personal --- ZERO deductions for ANYONE for ANYTHING. Just gross as much as you can and pay your percentage and be done with it. They could index the rates -- less for low earners -- more for the next bracket and hammer the top guys - but make it simple and easy. You gross X - you pay X. You want a big azz car and house - that's your problem not mine. |
I'm with you guys here. If the Buffet deal was incorrect, so be it. Just for the record, I think it should all be equal. If currently, the wealthy are paying higher taxes than the poor, that's just as wrong as the other way around IMO. FLAT TAX would fix it all.