Ripping the sheets off the Buffet Rule

  1. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Ripping the sheets off the Buffet Rule

    Buffet claims he pays a lower tax rate than his secretary.  What he doesn't tell you is that he doesn't get paid a salary, he covers his expenses off of capital gains.  The capital gains are generated off of investments made with money that has already been taxed as income, at some point.

    So, the Buffet Rule is a distortion by Obama to deceive you into thinking Buffet pays a lower tax rate on income, which he does not.  Obama is a deceiver.
     
  2. You have chosen to ignore posts from sof7squash. Show sof7squash's posts

    Re: Ripping the sheets off the Buffet Rule

    I'd like to tell BarryO "Liar Liar Pants on Fire", but in his world/household, he doesn't wear the pants.
     
  3. You have chosen to ignore posts from KittyDuke. Show KittyDuke's posts

    Re: Ripping the sheets off the Buffet Rule

    So, the Buffet Rule is a distortion by Obama to deceive you into thinking Buffet pays a lower tax rate on income, which he does not.  Obama is a deceiver.

    I'm still waiting for SOME from the imposter.
    Man... he is one badazz mofo.
    ..and WE elected him !!
     
  4. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Ripping the sheets off the Buffet Rule

    Dearth of liberals weighin on this.  I guess they kalready know that Obama is lying.
     
  5. You have chosen to ignore posts from KittyDuke. Show KittyDuke's posts

    Re: Ripping the sheets off the Buffet Rule

    I'm counting on the Stool to offer words without substance.
     
  6. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Ripping the sheets off the Buffet Rule

    In Response to Re: Ripping the sheets off the Buffet Rule:
    [QUOTE]I'm counting on the Stool to offer words without substance.
    Posted by KittyDuke[/QUOTE]


    LIAR!!! YOU WEREN'T IN THE MILITARY!! YOU ARE A KOCH STOOGE!! PATHETIC!! WELL, BUSH WAS WORSE!!!

    Just thought I'd fill in for them while they try to figure this one out.
     
  7. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Ripping the sheets off the Buffet Rule

    In Response to Ripping the sheets off the Buffet Rule:
    [QUOTE]Buffet claims he pays a lower tax rate than his secretary.  What he doesn't tell you is that he doesn't get paid a salary, he covers his expenses off of capital gains.  The capital gains are generated off of investments made with money that has already been taxed as income, at some point. Posted by skeeter20[/QUOTE]

    I don't think that's true in the case of capital gains that are rolled over into the next tax year and may be capped anyway.

    I don't see any proposal in the plan to touch capital gains tax rates, do you? 
     
  8. You have chosen to ignore posts from sk8ter2008. Show sk8ter2008's posts

    Re: Ripping the sheets off the Buffet Rule

    In Response to Re: Ripping the sheets off the Buffet Rule:
    [QUOTE]In Response to Ripping the sheets off the Buffet Rule : I don't think that's true in the case of capital gains that are rolled over into the next tax year and may be capped anyway. I don't see any proposal in the plan to touch capital gains tax rates, do you? 
    Posted by MattyScornD[/QUOTE]

    ? He not talking about any added tax on CG. He's talking about how Buffet and Obama are trying to sell a trojan horse to the public
     
  9. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Ripping the sheets off the Buffet Rule

    In Response to Re: Ripping the sheets off the Buffet Rule:
    [QUOTE]In Response to Re: Ripping the sheets off the Buffet Rule : ? He not talking about any added tax on CG. He's talking about how Buffet and Obama are trying to sell a trojan horse to the public
    Posted by sk8ter2008[/QUOTE]

    He's talking about tax rates.  The issue is that billionaires like Buffett can manipulate their assets to the point of gaming the system in order to pay less taxes.  Business expenditures and re-investments are incentivized in the tax code for precisely this reason.  In fact, re-investment would grow their business, create jobs and encourage the economy...all because a business owner didn't want to pay federal income taxes.

    A middle class person only has so many assets to leverage and therefore has much less leeway - this is what Buffett was getting at.
     
  10. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Ripping the sheets off the Buffet Rule

    In Response to Re: Ripping the sheets off the Buffet Rule:
    [QUOTE]In Response to Ripping the sheets off the Buffet Rule : I don't think that's true in the case of capital gains that are rolled over into the next tax year and may be capped anyway. I don't see any proposal in the plan to touch capital gains tax rates, do you? 
    Posted by MattyScornD[/QUOTE]


    Why should capital gains that are rolled over be taxed as income?  You don't do the finance thing, do you?

    Did I say there was a proposal to raise capital gains taxes?  Don't think so.  However, Obama proposed raising capital gains taxes last year.  not sure about the current bill.

    My overall point is that you are probably paying more in taxes and fees than any Obama savings. 

    The Obama tax cut, as I have demonstrated before, is an illusion.  People who don't pay income taxes get $500, People who do payincome taxes get $500, and absorb a liability for the 49% who get the $500 free money.  For the bulk of us, it is a wash.  For the rich, who did not get the $500, it is higher taxes.
     
  11. You have chosen to ignore posts from massmoderateJoe. Show massmoderateJoe's posts

    Re: Ripping the sheets off the Buffet Rule

    In Response to Re: Ripping the sheets off the Buffet Rule:
    [QUOTE]In Response to Re: Ripping the sheets off the Buffet Rule : He's talking about tax rates.  The issue is that billionaires like Buffett can manipulate their assets to the point of gaming the system in order to pay less taxes.  Business expenditures and re-investments are incentivized in the tax code for precisely this reason.  In fact, re-investment would grow their business, create jobs and encourage the economy...all because a business owner didn't want to pay federal  income taxes. A middle class person only has so many assets to leverage and therefore has much less leeway - this is what Buffett was getting at.
    Posted by MattyScornD[/QUOTE]

    Buffet donates his $1/2M salary to charity wiping out his taxable payroll "ordinary" income.  He collects the rest through capital gains at the lower rate.  The capital gains tax rate varies by ordinary income tax rate.  By donating all his "ordinary" income Buffet is in the lowest bracket 10% ordinary income rate:
    • which provide him with a short term cap gain rate of 10% 
    • and a long term rate of "0".

    The scam is that he has no ordinary income, this is similar to Sen Kerry's scam where he has all his cash in tax free bonds.

    The solution is a new Alternate Minimum Tax (AMT) tied to stock and bonds income above $250K, that leaves the normal retirees alone but gets the rich.



     
  12. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Ripping the sheets off the Buffet Rule

    In Response to Re: Ripping the sheets off the Buffet Rule:
    [QUOTE]In Response to Re: Ripping the sheets off the Buffet Rule : Buffet donates his $1/2M salary to charity wiping out his taxable payroll "ordinary" income.  He collects the rest through capital gains at the lower rate.  The capital gains tax rate varies by ordinary income tax rate.  By donating all his "ordinary" income Buffet is in the lowest bracket 10% ordinary income rate: which provide him with a short term cap gain rate of 10%  and a long term rate of "0". The scam is that he has no ordinary income, this is similar to Sen Kerry's scam where he has all his cash in tax free bonds. The solution is a new Alternate Minimum Tax (AMT) tied to stock and bonds income above $250K, that leaves the normal retirees alone but gets the rich. http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
    Posted by massmoderateJoe[/QUOTE]

    Maybe a good solution, but not until we get the left to stop it with the out right lying and class warfare.  Divisive and not grounded in what is good for the country.

    I still don't get why they are so afraid of success.  Did you hear the Liz Warren soundbites about rich people?  Seeing she earns $350K teaching part time and lives in a $2 million house, I am guess she is rich.  So, when she steps up to the microphone and complains that the rich are living off the rest of us, is she speaking from experience?  I just want to know.
     
  13. You have chosen to ignore posts from massmoderateJoe. Show massmoderateJoe's posts

    Re: Ripping the sheets off the Buffet Rule

    In Response to Re: Ripping the sheets off the Buffet Rule:
    [QUOTE]In Response to Re: Ripping the sheets off the Buffet Rule : Maybe a good solution, but not until we get the left to stop it with the out right lying and class warfare.  Divisive and not grounded in what is good for the country. I still don't get why they are so afraid of success.  Did you hear the Liz Warren soundbites about rich people?  Seeing she earns $350K teaching part time and lives in a $2 million house, I am guess she is rich.  So, when she steps up to the microphone and complains that the rich are living off the rest of us, is she speaking from experience?  I just want to know.
    Posted by skeeter20[/QUOTE]

    Warren's employer pays no taxes and files for sales tax exemption because they are a non-profit.  She makes $400K/yr and has a $1.6M house in the Republic of Cambridge.  She who lives in a glass house or works in one shouldn't throw stones.

     
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