January 12, 201214 yr http://swampland.time.com/2012/01/11/warren-buffett-to-mitch-mcconnell-put-up-or-shut-up/
January 12, 201214 yr This is inane. Policies only work if they involve everyone. You can't fund a government on donations. Buffett challenging the Republicans is as almost as dumb as them demanding it from him.
January 12, 201214 yr Author This is inane. Policies only work if they involve everyone. You can't fund a government on donations. Buffett challenging the Republicans is as almost as dumb as them demanding it from him. I agree with your overall point. I think Mr. Buffett does as well and this is how he's trying to do it.
January 12, 201214 yr Warren Buffet and Bill Gates entire fortunes combined would only last Obama 8 to 17 days..
January 12, 201214 yr Top 1% pays 38% of total U.S. income tax revenues Top 5% pays 59% of total U.S. income tax revenues Top 10% pays 70% of total U.S. income tax revenues Bottom 50% pays 3% of total U.S. income tax revenues Seems to me that the well-to-do are doing a lot right now.
January 12, 201214 yr Top 1% pays 38% of total U.S. income tax revenues Top 5% pays 59% of total U.S. income tax revenues Top 10% pays 70% of total U.S. income tax revenues Bottom 50% pays 3% of total U.S. income tax revenues Seems to me that the well-to-do are doing a lot right now. Just curious. What percentage of total government revenues are made up of the U.S. Income Tax? Would love to see a breakdown.
January 12, 201214 yr Just curious. What percentage of total government revenues are made up of the U.S. Income Tax? Would love to see a breakdown. According to the link below 2008 broke down like this 45% Individual Income Tax 36% Payroll Tax 12% Corporate Income Tax 3% Excise Tax 4% Other http://www.taxpolicycenter.org/briefing-book/background/numbers/revenue.cfm
January 12, 201214 yr Top 1% pays 38% of total U.S. income tax revenuesBut controls 42% of the wealth in the country and take home 24% of the national income, owns HALF of the countries stocks, bonds and mutual funds, has only 5% of the nations personal debt, are taking home more of the nations income than any other time since the 1920s Top 5% pays 59% of total U.S. income tax revenues But controls 69% of the wealth in the country Top 10% pays 70% of total U.S. income tax revenues But controls 80% of the wealth in the country Bottom 50% pays 3% of total U.S. income tax revenuesBottom 80% only has 7% of the wealth Seems to me that the well-to-do are doing a lot right now.but are they paying the same percentage they are controlling You need to see the whole picture though
January 12, 201214 yr You need to see the whole picture though Why do you continue to confuse wealth with income? Do you pay income tax on the value of your house? Do you want to? Your own statistics indicate that the top 1% are over taxed in comparison to the 99%. They pay 38% yet take home only 24%?
January 12, 201214 yr When EVERYONE pays some income tax then I MIGHT say that raising taxes on anyone is justified but as long as more then half of the people in the country pay NO INCOME TAXES no one else should pay any more.
January 12, 201214 yr As for Mr. Buffet, unless he's talking investments I don't pay much attention. I believe there were reports that his companies owed around a billion dollars in back taxes, some of it going back 10 years?
January 13, 201214 yr My old buddy Warren is at it again. He wants capitalism to "have a heart". Perhaps he can explain to the approx. 17,000 people and their families HB has laid off how he had a heart when he laid them off to cut expenses for the sake of profits. See: http://www.dailyfinance.com/2010/08/18/the-layoff-kings-the-25-companies-responsible-for-700-000-lost/. I'm telling you again folks, Warren is a smart, very smart investor but when it comes to "having a heart", he's a fraud.
January 13, 201214 yr Why do you continue to confuse wealth with income? Do you pay income tax on the value of your house? Do you want to? Your own statistics indicate that the top 1% are over taxed in comparison to the 99%. They pay 38% yet take home only 24%? I am really interested in hearing ace's response to this.
January 13, 201214 yr Top 1% pays 38% of total U.S. income tax revenues Top 5% pays 59% of total U.S. income tax revenues Top 10% pays 70% of total U.S. income tax revenues Bottom 50% pays 3% of total U.S. income tax revenues Seems to me that the well-to-do are doing a lot right now. Do you know the low income in each of these brackets? For example, in the 1% category, what is the income for the lowest income earner in the 1%?
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