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What's Really The Point Of The Buffett Rule?


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#61 MadHatter

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Posted 13 April 2012 - 03:04 PM

I am not a democrat or a republican. I was actually raised to be a republican by my parents, but I changed my mind when I got older, and realized that it is all a scam. I hate the democrats just as much.

And I know for a fact that most wealthy people hide their money over seas so that they dont have to pay taxes on it. My father was a multi-millinaire, and i knew that he had most of his wealth hidden in Cayman Island bank accounts.

Why pay taxes on your wealth when you can just hide it? You know it's true. I am willing to bet everything that I own that Romney has most of his wealth in the Caribbean or in Switzerland.


They often do put the money offshore, but this only protects the taxes on the interest....which right now is not much. They still pay taxes on the money when they earn in here in the US.

#62 Disinfranchised

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Posted 13 April 2012 - 04:50 PM

Obama, president of the US paid 20% just in federal incomtax last year. That's one hundred and sixty thousand dollars on less than a million. That makes me sick. I just want to throw up. Fukin blood suckers.
Link: http://nbcpolitics.m...of-789674?lite/

#63 d-run

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Posted 13 April 2012 - 06:50 PM

They do it in EVERY country that you and others like to throw out as examples of how socialized programs work. EVERYONE there pays 40-50% in taxes.

You want the benefits that citizens of those countries have (healthcare,etc...)...but you don't want to pay the taxes that those same people pay to get said benefits.

You want it both ways.


Not entirely true. Norway has a progressive tax rate that goes from 0 to 41%. They actually have a flat tax of 28%, then have deductions and surtaxes based on income. The surtaxes are what pushes it up to 41% and start at around 75,000 per year (6%) and 125,000 (12%). There is also a wealth tax of 1.1% on anyone making over 75,000.

#64 cantrell

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Posted 16 April 2012 - 02:47 AM

Sen. Patty Murray pushes "Buffett Rule" tax on millionaires




I am solidly in the middle and my effective tax rate (according to turbotax) was 11.4%, primarily due to having a dependent child, mortgage interest deductions and a few charity donations.


i know this post is referring to federal income taxes but i would just like to emphasize that the study cited in this post doesn't include the incredibly regressive sales tax or capital gains. as a whole, rich people pay a lower percentage of their income than poorer people. get rid of the sales tax and the payroll tax and then we can talk about how bad those poor oppressed rich people have it

#65 MadHatter

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Posted 16 April 2012 - 06:56 AM

i know this post is referring to federal income taxes but i would just like to emphasize that the study cited in this post doesn't include the incredibly regressive sales tax or capital gains. as a whole, rich people pay a lower percentage of their income than poorer people. get rid of the sales tax and the payroll tax and then we can talk about how bad those poor oppressed rich people have it


You do realize that Capital Gains Tax is INCLUDED in your Federal income Tax amount and effective rates.

#66 cookinwithgas

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Posted 16 April 2012 - 08:57 AM

At least MadHatter has moved on from his "everyone pays the same taxes overseas, our rich people need a break!" silliness.