Warren Buffett reveals his tax info to GOP
- Thread starter Fred Zed
- Start date
Im surprised one of those other "masters of the realm" have not tried to have him killed yet.The stuff coming out his mouth must be almost sacriligious to them........
He better avoid flying which is the preferred way of silencing those like Warren....:Eek:
I'm sure he's got pretty good security in and around his home, as well as around himself.
I love the fact he still lives in the home he grew up in, now that's frugal. lol
Apparently he made $62 million last year and has a networth north of $40 billion. I suspect there isn't much he's afraid of.
You mean other than why he didn't pay a great deal more income tax than he did on that amount of income.
Yes, what this is going to highlight is not low tax rates (where Obama wants to drive the discussion) but tax loopholes (which Congressional Dems don't want to mess with, and to be fair some in the GOP) which is not going to focus the discussion where the POTUS wants it.
Why would he be "afraid" of using the tax code, just like you, OTB, et al do? I get a kick out of people that call them "loopholes". If you don't like it, fight to get it changed. Get rid of most of them and let everyone pay a fair share.
I'm sure you aren't saying he did anything illegal or unethical by using the deductions available to him.
I'm sure his tax accounts are very adept at helping him to avoid tax... no criticism there. Where he will find himself in trouble is that he wrote a painfully simplistic OpEd on paying a lower tax rate than his secretary.... the reason for that won't be the rates (which the POTUS is using his good name to try to raise) but the loopholes in the tax code.
OTB
just read an article where buffet is willing to reveal his tax returns if the other super rich like him are willing to do the same. Hey, im for it if they can use his tax return as a guide on how to change or modify the tax code.
http://news.yahoo.com/warren-buffett-brings-tax-fight-supercommittee-070310490.html
http://news.yahoo.com/warren-buffett-brings-tax-fight-supercommittee-070310490.html
Because I am not making very public statements about how outrageous it is that "I" don't pay more in Income Tax. OTB, has this dead-bang!
I think all the super rich guys who have written opeds saying they don't pay enough tax should release their returns.....
OTB
This is all smoke and mirrors by Buffett. He must be feeling guilty or philanthropic for making such anecdotal remarks, as the article suggests.
He has given millions if not billions to charity (or has a charitable foundation - something ultra-rich philanthropists do), including pledging a fortune to Bill Gates' charitable foundation.
Don't forget that he also suffered stock market crash losses which probably were carried over to lower taxes even further.
Losses and charitable gifts, etc. will lower your taxes.
However, doesn't the USA have minimum tax like we do here in Canada (AMT = Alternative Minimum Tax)?
He has given millions if not billions to charity (or has a charitable foundation - something ultra-rich philanthropists do), including pledging a fortune to Bill Gates' charitable foundation.
Don't forget that he also suffered stock market crash losses which probably were carried over to lower taxes even further.
Losses and charitable gifts, etc. will lower your taxes.
However, doesn't the USA have minimum tax like we do here in Canada (AMT = Alternative Minimum Tax)?
Yep: http://en.wikipedia.org/wiki/Alternative_Minimum_Tax
Starts hitting married couples at 175K a year....
OTB
