ITT: Tax, politics and why not titties later on

[Da1andonly]

So, I read in my newspaper today about Warren Buffets opinion on the taxes in the states. At the end of the article it was mentioned that even with his multi-million (billion?) incomes each year, he still only has a tax percentage of 17.4%.

Stupid europeon now asks: wtf? 17.4%? you got to be fucking kidding me. I have about that myself, and I make about 2900$/month.

I'm not saying rich people should pay shitloads of tax, but...surely they can pay way more than this. I mean, if you make 500.000 a year...you should probably be able to live with "only" getting say, 350k a year in your pocket.

If i remember correctly, in finland, if someone makes close to 10k€/month, he has about 50% tax. I don't think it rises that much from there, i'm pretty sure 60% is as high as it can get.

now discuss

[Rudy]

Probably has a lot to do with what he and his ilk can claim as a tax writeoff. Having a large percentage of your income taxed means fuck all when you're able to claim back the equivalent, if not more on your return. And even so, 17.4% of however many million is still not something to laugh at.
Before I bought my house I managed to save up AUD$140K earning around 5%pa interest which was scoring me an extra $500 to $600 a month. I was like, "Fuck yeah". But then I had to pay most of it back through capital gains tax anyway. Cunts.

I see your point though. The US economy is fucked in the arse. Extending the debt cap doesn't improve the situation any. They need policies to help recoup their loss, or else I'd soon be watching where I walk least I be rained on by suicidal investment bankers.

[Ilya]

fuk yea titties n taxes

[DoTheFandango]

essentially the argument is that lower tax rates on the wealthy helps the economy because they can spend the money better than the government can.

bullshit, i know, but they are the policy shapers, with all their money and all.

[Jerome Scuggs]

anarchist jerome: noone should be taxed ever. kill whitey

misanthrope, defeated, jaded jerome: well if we're already being fucked might as well let the rich take a few loads in their faces as well

[Ilya]

[Pressure Drop]

oooh i also read an article about this

http://www.bbc.co.uk/news/business-14533987

i thought it was really refreshing to see someone who actually earns that amount come out with this, He kinda just cut through alot of the crap and points out the obvious.

i'm very left wing and socalist but surely most would agree as he says

He told Congress to "stop coddling the super-rich".

"Our leaders have asked for 'shared sacrifice'," he wrote. "But when they did the asking, they spared me."

Mr Buffett explained that, like many top earners, his income came entirely from investments rather than from employment, which are subject to lower taxes in the US.

He said last year he paid an effective tax rate of 17.4%, less than the 33% to 41% paid by the employees in his office.

[D1st0rt]

the misleading thing here is to think that super rich people get their income in salary

[Fit of Rage]

He does make the point that capital gains should be (but aren't) taxed the same way as wages/salary.

[Epinephrine]

If anyone is interested, the Op-Ed appeared on the August 15th issue of the New York Times:
http://www.nytimes.com/2011/08/15/op...me&ref=general

Buffet has made a few similar Op-Eds in the past, including his call for not ending the estate tax among other things.

[Vatican Assassin]

i would rather end one of the 3 wars we're in or stop paying every other coutry in the world billions of dollars in "foreign aid" then raise taxes or remove benefits

we've been giving foreign aid to africa for 20 years and 95% goes to guns and guess what they are still starving

[Zeebu]

and the hiv

[Jerome Scuggs]

i would rather end one of the 3 wars we're in or stop paying every other coutry in the world billions of dollars in "foreign aid" then raise taxes or remove benefits

we've been giving foreign aid to africa for 20 years and 95% goes to guns and guess what they are still starving

so you're saying that we should stop giving poor Africans money for food and aid? but... but... they will starve! why can't you have compassion?!

(btw vati have you read this)

[Pressure Drop]

If anyone is interested, the Op-Ed appeared on the August 15th issue of the New York Times:
http://www.nytimes.com/2011/08/15/op...me&ref=general

Buffet has made a few similar Op-Eds in the past, including his call for not ending the estate tax among other things.

that was a more interesting read ^_^

i really hate all that bullshit accounting to let off the super rich like right near the start as he points out


"Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors."

[Ilya]

so you're saying that we should stop giving poor Africans money for food and aid? but... but... they will starve! why can't you have compassion?!

black people arent the only ones on medicaid you racist