Did he give anything to charity?  Mitt gave some I see.

When my taxes aren't given to universities to study the effects of porn on female genitalia etc; I'll be more outraged by those providing jobs for "not paying their fair share".

Your tax money is not wasted if you just don't pay what is due on them.  You can even be invited to the WH.

How did WB evade his taxes?

 This is so retarded. Anyone who thinks WB paid in less taxes than his secretary is a moron. She is more than likely in the 15% Federal tax bracket. If he is paying the same or less he is only claiming his Capitol Gains Tax. Otherwise, the Federal Income Taxes he pays is 29.1 almost 30% meaning dollar for dollar he pays twice as much.  

That is the problem Simms, people believe things like that!

Sheep.

Buffett recieves a salary of 100k -- he pays taxes and fica on that; Berkshire doesnt pay dividends -- but it pays a corporate tax of big $$$.  Rest of his investments are taxed at 15percent and some at 0 munis.   He is paying tax at an effective rate of 11%.   His single secretary's maybe pay an effective rate higher than that.  Rate vs. tax paid though BIG DIFFERENCE.

I heard heitkamp on the radio yesterday touting how high his tax rate was -- -blowin his horn big time.   FICA is not income tax Joel and if your going to treat as such - then what are going to do for the working stiffs that have to pay FICA on their paycheck. 

You have to stop deceiving people -- my kids are way to smart to tell them something like that.

Tim Sandstrom Said:
That is the problem Simms, people believe things like that!

Sheep.

Well that didn't take long, there goes the Oath of Dignity and Respect.

Sheep?  I think the average person realizes the fact that investment income is taxed  at 15%.  Hedge fund managers & finance execs. get taxed at this rate because their compensation is called carried interest which is then taxed as capitol gains.
The 400 wealthiest tax payers pay less then 20%.

15% flat tax, no loopholes and no refunds, would get my vote.

I wouldn't bet on it and who the hell is the average person? My wife would be average and she had no idea, she doesn't even know hers.  

fishmahn Said:
Sheep?  I think the average person realizes the fact that investment income is taxed  at 15%.  Hedge fund managers & finance execs. get taxed at this rate because their compensation is called carried interest which is then taxed as capitol gains.
The 400 wealthiest tax payers pay less then 20%.

 You know what really gets me is during times like in Obamas speech last night he stated that all rich should pay their fair share. Why does he need to say that and why do his people clap when he says that? If he knows it, and they know it, shouldn't they just get out their check books and start writing? I would rather give any extra money I have to my church, my charity or my kids but if you feel you need to pay more cause you are rich, write the damn check.

simmsjs Said:
 You know what really gets me is during times like in Obamas speech last night he stated that all rich should pay their fair share. Why does he need to say that and why do his people clap when he says that? If he knows it, and they know it, shouldn't they just get out their check books and start writing? I would rather give any extra money I have to my church, my charity or my kids but if you feel you need to pay more cause you are rich, write the damn check.

Take a look at how much Romney gave to his church. It was closer to 16% of his income. WTF is wrong with that. He is now under attack for being too generous. Wow

As stated earlier, Buffet doesn't have a salary.  He makes his money on his investments and any money he makes on investments are taxed at 15%, called capital gains taxes.  What he or Obama don't say is that the money that he used for those investments was already taxed at the top tax bracket of around 35%, like everyone else.  So the same money is being taxed twice.  What do the Democrats want?  Make him pay more in taxes? 

So let's say that we increase income tax to 50%.  Warren Buffet would still have to claim that he payed less than his secretary because he doesn't have an income.  His tax rate is still 15%.  So you might say, well then increase the capital gains tax.  Let me ask you this.  If you relied only on the stock market to make money and had no income, you put it all on the line every day, how much should you be taxed?  If you do good one year, the government takes 15%.  If the market crashes, you lose everything.  My point is if you increase capital gains tax, people will not want to invest in companies because the risk is too high for the amount you get in return.

By the way, if you already don't know, most people in the stock market aren't millionaires or billionaires.  They are average people like you and I who put money into the stock market in the form of 401Ks and retirement funds.  An increase in capital gains will hurt everyone.  You will have less money at retirement.

flycaster Said:
As stated earlier, Buffet doesn't have a salary.  He makes his money on his investments and any money he makes on investments are taxed at 15%, called capital gains taxes.  What he or Obama don't say is that the money that he used for those investments was already taxed at the top tax bracket of around 35%, like everyone else.  So the same money is being taxed twice.  What do the Democrats want?  Make him pay more in taxes? 

So let's say that we increase income tax to 50%.  Warren Buffet would still have to claim that he payed less than his secretary because he doesn't have an income.  His tax rate is still 15%.  So you might say, well then increase the capital gains tax.  Let me ask you this.  If you relied only on the stock market to make money and had no income, you put it all on the line every day, how much should you be taxed?  If you do good one year, the government takes 15%.  If the market crashes, you lose everything.  My point is if you increase capital gains tax, people will not want to invest in companies because the risk is too high for the amount you get in return.

By the way, if you already don't know, most people in the stock market aren't millionaires or billionaires.  They are average people like you and I who put money into the stock market in the form of 401Ks and retirement funds.  An increase in capital gains will hurt everyone.  You will have less money at retirement.

You make too much sense.   But, but, but it just isn't FAIR!