I just heard Buffett has stage one (low risk) Prostate cancer. will Obama try to claim we need to pass the Buffett rule for Buffett (the dems did the same thing with the Brady Bill in reference to maimed Hinckley victim James Brady)
stop lying, the buffett BS applies to federal income tax rates.
As usual, you don't what the hell you are talking about. The Buffett Rule requires all those who make more than a million dollars pay at least a 30 % tax rate regardless of whether it is earned income or investment income.
That is twice Romney's current tax rate on his income.
In other words federal income tax alone while your rate is based on every tax you pay.
no one in the middle class pays 30% effective tax rate on earned income. So you are lying again
"ABOUT 55,000 MILLIONAIRES PAY A LOWER EFFECTIVE TAX RATE THAN MILLIONS OF MIDDLE-INCOME AMERICANS."
The Buffett Rule | The White House
and most millionaires pay fa higher tax rates than the middle class and almost all of them pay more actual tax dollars which is what really matters.
we already have proven the buffett bovine excrement is based on lies, dishonest comparisons and pretending to use effective rates when its marginal rates.
give it up
:lamo You haven't proven ****!
Add to that Trillion another Half a Trillion from the Buffett Rule
I know these numbers seem small to guys like you. You probably make $10,000 bets all the time too.
I'll be glad to see these cuts go to, That trilion is probably low because of the Bush Recession, I bet we can count on $1.5 Trillion more revenue in the next 10 years from ending these cuts alone.
\:lamo You haven't proven ****!
That tells us how much they ARE paying, but it tells us nothing about how much they SHOULD pay.Why the Buffett Rule Is Needed
" The average tax rate paid by the very highest-income Americans has fallen to nearly the
lowest rate in over 50 years. The wealthiest 1-in-1,000 taxpayers pay barely a quarter of their
income in Federal income and payroll taxes today—half of what they would have contributed
in 1960. And, the top 400 richest Americans—all making over $110 million—paid only 18
percent of their income in income taxes in 2008.
Average tax rates for the highest income Americans have plummeted even as their incomes
have skyrocketed. Since 1979 the average after-tax income of the very wealthiest Americans –
the top 1 percent – has risen nearly four-fold. Over the same period, the middle sixty percent
of Americans saw their incomes rise just 40 percent. The typical CEO who used to earn about
30 times more than his or her worker now earns 110 times more.
Some of the richest Americans pay extraordinarily low tax rates—as they hire lawyers and
accountants to take particular advantage of loopholes and tax expenditures. The average tax
rate masks the fact that some high-income Americans pay near their statutory tax rate, while
others take advantage of tax expenditures and loopholes to pay extraordinarily low rates—and
it is these high-income taxpayers that the Buffett rule is meant to address .
Of millionaires in 2009, a full 22,000 households making more than $1 million annually
paid less than 15 percent of their income in income taxes — and 1,470 managed to
paid no federal income taxes on their million-plus-dollar incomes, according to IRS data.
Of the 400 highest income Americans, one out of every three in this group of the most
financially fortunate Americans paid less than 15 percent of their income in income
taxes in 2008.
Many high-income Americans are paying less in taxes than middle class Americans in taxes.
Nearly one-quarter of all millionaires (about 55,000 taxpayers) face a tax rate that is lower than
more than millions of middle-income taxpayers. This is fundamentally unfair."
https://docs.google.com/viewer?a=v&q=cache:qkq0uc7VBm8J:www.whitehouse.gov/sites/default/files/Buffett_Rule_Report_Final.pdf+ABOUT+55,000+MILLIONAIRES+PAY+A+LOWER+EFFECTIVE+TAX+RATE+THAN+MILLIONS+OF+MIDDLE-INCOME+AMERICANS&hl=en&gl=us&pid=bl&srcid=ADGEESh51HkWt_nQdMfXtwWJv9wXOvml0XMDWrcVGi5dg4kjCUODTzB52t-iv9IjbpsX79DWONnaqvemaccSM6q29lUxC6JVbGb2AARwQhU9uhhi_L1dTbqBeC6kF6_xqI3_VN2jXFFO&sig=AHIEtbQ0c6oNj3fi8BbyIgvgngug2m8J7A
We have proven you are whining about the rich
Why do average folks swallow the premise that not only does it smell good but it tastes good too will get them advanced in life?
Because they are average.impdaddy:
Why the Buffett Rule Is Needed
" The average tax rate paid by the very highest-income Americans has fallen to nearly the
lowest rate in over 50 years. The wealthiest 1-in-1,000 taxpayers pay barely a quarter of their
income in Federal income and payroll taxes today—half of what they would have contributed
in 1960. And, the top 400 richest Americans—all making over $110 million—paid only 18
percent of their income in income taxes in 2008.
Average tax rates for the highest income Americans have plummeted even as their incomes
have skyrocketed. Since 1979 the average after-tax income of the very wealthiest Americans –
the top 1 percent – has risen nearly four-fold. Over the same period, the middle sixty percent
of Americans saw their incomes rise just 40 percent. The typical CEO who used to earn about
30 times more than his or her worker now earns 110 times more.
Some of the richest Americans pay extraordinarily low tax rates—as they hire lawyers and
accountants to take particular advantage of loopholes and tax expenditures. The average tax
rate masks the fact that some high-income Americans pay near their statutory tax rate, while
others take advantage of tax expenditures and loopholes to pay extraordinarily low rates—and
it is these high-income taxpayers that the Buffett rule is meant to address .
Of millionaires in 2009, a full 22,000 households making more than $1 million annually
paid less than 15 percent of their income in income taxes — and 1,470 managed to
paid no federal income taxes on their million-plus-dollar incomes, according to IRS data.
Of the 400 highest income Americans, one out of every three in this group of the most
financially fortunate Americans paid less than 15 percent of their income in income
taxes in 2008.
Many high-income Americans are paying less in taxes than middle class Americans in taxes.
Nearly one-quarter of all millionaires (about 55,000 taxpayers) face a tax rate that is lower than
more than millions of middle-income taxpayers. This is fundamentally unfair."
https://docs.google.com/viewer?a=v&q=cache:qkq0uc7VBm8J:www.whitehouse.gov/sites/default/files/Buffett_Rule_Report_Final.pdf+ABOUT+55,000+MILLIONAIRES+PAY+A+LOWER+EFFECTIVE+TAX+RATE+THAN+MILLIONS+OF+MIDDLE-INCOME+AMERICANS&hl=en&gl=us&pid=bl&srcid=ADGEESh51HkWt_nQdMfXtwWJv9wXOvml0XMDWrcVGi5dg4kjCUODTzB52t-iv9IjbpsX79DWONnaqvemaccSM6q29lUxC6JVbGb2AARwQhU9uhhi_L1dTbqBeC6kF6_xqI3_VN2jXFFO&sig=AHIEtbQ0c6oNj3fi8BbyIgvgngug2m8J7A
You have not even proven that. A person offering a different opinion on tax policy is not WHINING. That is a cheap pejorative designed to demean the person holding different views from you.
Add to that Trillion another Half a Trillion from the Buffett Rule
http://www.debatepolitics.com/economics/124033-buffett-rule-only-4-7-billion-year-more-w-7-a.html
which raises much more than most everyone thinks
(though there is some overlap with expiring cuts)
and you're talking Real Deficit reduction from just the top 5%.
Add in the other 95% of the population and talking perhaps $2-$2.5 Trillion from expired cuts and new rev.
Another lie-many High income tax payers are paying less in taxes than middle class americans. That is a complete lie unless "high income" also means middle class americans. If it means people making more than a million a year that is a flat out lie
And counselor your evidence is?
You are playing dumb if you haven't seen all the evidence. Even Adam T noted that there is no possible way for anyone in the middle class to be paying a rate anywhere near 30%
tell me what do you consider the middle class. Millionaires average over 22% effective federal income taxes. numerous posts indicate that Romney's rate of about 14% is higher than 97% of americans. are you claiming that those 3% are anything but "the rich"
citing White House talking points that are obviously full of crap is hilarious. Why do those turds whine about the top 400 when this idiotic law applies to far more people. GOt to love the loaded class warfare terms of "financially fortunate"
Another lie-many High income tax payers are paying less in taxes than middle class americans. That is a complete lie unless "high income" also means middle class americans. If it means people making more than a million a year that is a flat out lie
that a guy who claims to be an expert on finances and taxes "likes" this nonsense is pretty funny as well
and another lie is that a quarter of millionaires (does this mean people making a million a year or merely having a million in assets) "Face" a tax rate (this is based on the dishonest marginal tax rate rather than effective-it has been proven that Romney's rate-somewhat south of 15% is still higher than NINETY SEVEN PERCENT OF ALL AMERICANS' effective income tax rates)
in other words its mostly lies
Yawn more hacking nonsense. It is whining about the rich based on lies and dishonesty
Man you must in court in ALOT! I asked for evidence not your usual the rich have it so hard crud.
No, it is you attempting to demean anyone who disagrees with you on a matter of public policy because you have no actual evidence or data to back up your pontifications.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?