I haven't heard of Gates or Buffet writing checks to the Treasury over and above their tax obligations.
Instead, they seek every deduction they can get.
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Millionaires to Obama: Tax us
- Thread starter Crabtownboy
- Start date
I haven't heard of Gates or Buffet writing checks to the Treasury over and above their tax obligations.
Instead, they seek every deduction they can get.
Steven2006
New Member
The key to their entire statements are the words "or in the past". It is likely that many of these men are NOT currently reporting a million in annual earned income. They probably have many assets, and have much of their incomes come from investments where they receive (lower taxed) dividends, or sheltered in tax free bonds.
Buffett says he should be paying more in taxes.
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Talk is cheap.
Why doesn't he just write a check to the Treasury for a few million if he really thinks that?
Since I am not saying that my taxes should be higher - No I would not.
He is saying that his taxes should be higher - so why doesn't he just pay more then?
Do you think that your taxes should be higher?
Don't tell others to do what you will not do yourself.
That was why I put in his quote. Others on the board said he had not advocated higher taxes for the rich. I was just showing that was an error on their part.
If the government raises my taxes I will not cry, scream, shout, complain. I will happily pay them. The last decade has been one of increasing debt in the US. Sometime it will have to be paid. I do not think it is right for us to continue running up debt that will impoverish our children, grandchildren and great grandchildren.
Do you think it is right to do so?
I am not advocating higher taxes for anyone. He is.
Anyone with an ounce of brains can see the hypocricy on his part.
Why can't you?
By way of analogy - you are constantly starting threads about manmade global warming? Why don't do something about it yourself - like reducing your carbon footprint by cutting back on your trans-Atlantic jet flights - instead of telling others to do what you will not do yourself?
The question was do you think that your taxes should be higher.
Do you think that you should pay more in taxes?
The answer to that is cutting spending - not increasing taxes.
If you think that higher taxes are the answer and would happily pay them - why don't you just write a check to the Treasury and send in some extra money?
It's one thing to call people want something "whiners", but when some feel a need to give some of their extra benefit (and that's what a tax break is) back to the economy by giving up their break, how is that "whining" on their part? Now I've heard everything.
People complain it is giving money back to the government to waste, or whatever, but I think the whole idea is to give back to the economy. That would raise more money than these individual "checks" people are suggesting.
Now, the government can take it all and waste it, but then they can also waste individual checks, as well. Either way, the rest of the economy likely wouldn't be getting it.
Maybe they are just trying to make themselves look generous, or whatever other hidden agenda, but I don't see why people would get just as annoyed at them as is it were someone else trying to raise your own taxes.
People complain it is giving money back to the government to waste, or whatever, but I think the whole idea is to give back to the economy. That would raise more money than these individual "checks" people are suggesting.
Now, the government can take it all and waste it, but then they can also waste individual checks, as well. Either way, the rest of the economy likely wouldn't be getting it.
Maybe they are just trying to make themselves look generous, or whatever other hidden agenda, but I don't see why people would get just as annoyed at them as is it were someone else trying to raise your own taxes.
They are not giving money back to the economy. They are advocating giving it to the imperial federal government to waste on entitlements, pork, and bail outs. If they are truly concerned about the economy then they should start new businesses, hire workers, and contribute to something that actually makes a difference. Even if I had hundreds of millions of dollars I would do everything possible, within legal bounds, to keep the government's greedy hands off it. Only a very foolish person would want to hand more money over to Uncle for him to waste.
Steven2006
New Member
There is much this man has done and knows. Being a small businessman is really not one of them. He is/was an investor. Built his wealth investing in stocks, and then purchased large companies.
I also remember him mentioning once in an interview something to the effect that he paid less in taxes (as a %) of income than one of his secretaries. Which of course is a great sound bite, and sounds awful on the surface. However that is because he had already created large wealth and now mostly received income in the form of dividends, capital gains, and tax free investments. So while he was championing for the raising of higher income tax rates it wouldn't really affect him as much as is applied. Furthermore, when we raise the rates on dividends and capital gains that is a real hit on many retirees, and the middle class as well.
I'm amazed how monunentally ignorant people are--to think that somehow giving money to the government is charitable, and that the government knows better for us than we do.
Thank God these folks weren't the prevailing thought in the 1700's, or we wouldn't have the United States today.
Thank God these folks weren't the prevailing thought in the 1700's, or we wouldn't have the United States today.
So true. It's easy for uber-rich guys like Buffett to say he should pay more in taxes. Guys like him have no sense or need for a budget - they have an endless supply of money and assets. But to a small business owner who nets 300K a year, while still doing very well for himself, does not have the endless supply of money at his disposal to absorb a tax increase. 300K a year is not rich - it's upper middle class. People who make 300K a year are not even in the same galaxy as guys like Buffett. People who make 300K a year live in slightly better houses and neighborhoods, drive slightly better cars, have a few more gadgets than the rest of us, but they can't be considered in the same breath as someone like Buffett.
I'm all for Congress passing a law to put on the 1040 an elective tax on yourself - if you feel you need to pay more in taxes, then simply put the number on that line and add it to your total. Then we will see the true colors of hypocrites like Buffett shine through.
>I'm amazed how monunentally ignorant people are--to think that somehow giving money to the government is charitable, and that the government knows better for us than we do.
The "we" who are underwater and losing our houses, who buy toys on credit are not doing so well and didn't make better choices than the choices the people we elected made for themselves.
The "we" who are underwater and losing our houses, who buy toys on credit are not doing so well and didn't make better choices than the choices the people we elected made for themselves.
Funny, that doesn't describe me at all, nor many of the people I know.
Of course facts seldom do get in your way...